An Informal Leader

question 32

Multiple Choice

An informal leader:

• A) Does not have the support of employees
• B) Is in charge based on the organization chart
• C) Spends a significant amount of time walking around
• D) By virtue of having the support of employees, is in charge

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Definitions:

GAAP And GAAS

GAAP (Generally Accepted Accounting Principles) are a set of accounting standards used in the U.S., while GAAS (Generally Accepted Auditing Standards) are guidelines for auditors in executing audit engagements.

Prima Facie Evidence

Evidence that, on its face, is sufficient to prove a particular proposition or fact unless refuted by contrary evidence.

Negligence

A failure to exercise the care that a reasonably prudent person would exercise in similar circumstances, leading to harm or damage.

Securities Exchange Act

U.S. legislation that governs the trading of securities, aimed at protecting investors and maintaining fair and orderly markets.