Jim Is the Daytime Supervisor for an Automobile Assembly Line

question 110

Multiple Choice

Jim is the daytime supervisor for an automobile assembly line. He supervises forty-five workers who perform routine jobs that require minimal training. Which of the following suggests that Jim follows the servant-leadership model of leadership?

• A)Jim seeks to develop leadership in others and focuses on objectives that surpass the immediate needs of the group.
• B)Jim sets goals, monitors progress toward goal achievement, and rewards and punishes people for their level of goal accomplishment.
• C)Jim refrains from engaging in self-serving behaviors that hurt others and focuses on increased service to others rather than to himself.
• D)Jim wants to develop a partnership with his team illustrated by reciprocal influence, mutual trust, respect and liking, and a sense of common fates.
• E)Jim likes to provide the guidance and support needed by employees and ties meaningful rewards to completion of objectives.

Understand the process and importance of posting journal entries to ledger accounts.

Comprehend the purpose and structure of a chart of accounts in organizing financial information.

Identify the characteristics and normal balances of various account types (assets, liabilities, owner's equity, revenues, and expenses).

Realize the significance of the trial balance in confirming the mathematical equality of debits and credits in the accounting system.

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Definitions:

Initial Investments

The initial amount of money invested in a project, asset, or company to start operations or purchase assets.

Income Taxes

Taxes imposed by the government on the income generated by individuals and businesses.

Capital Budgeting

The process of planning and managing a company's investments in major projects or assets with long-term implications.

Working Capital

The difference between a company's current assets and current liabilities, indicating its short-term financial health and operational efficiency.