Beverly, the Manager of a Branch Location of a Large

question 9

Multiple Choice

Beverly, the manager of a branch location of a large law firm, treated company resources as if they were her own and encouraged continued development and training of her employees. She cared about the staff deeply and even organized international volunteering activities to promote their growth. Beverly could best be described as which type of leader?

• A) situational
• B) shared
• C) laissez-faire
• D) servant
• E) transactional

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Definitions:

FIFO Costing

FIFO Costing, or First-In, First-Out costing, is an inventory valuation method where goods first purchased or produced are the first ones sold.

Pretax Income

The amount of income earned by a business before taxes have been deducted, also known as earnings before taxes (EBT).

Inventory Amounts

The price of items that are up for sale at the termination of a bookkeeping period.

Audit

An examination of the financial reports to ensure that they represent what they claim and conform with generally accepted accounting principles.