Eliza Company Discovered the Following Errors in 2014

question 67

Multiple Choice

Eliza Company discovered the following errors in 2014:



Eliza reported net income of $45,000 for the year 2013. The corrected net income (ignoring income taxes) for 2013 should be

• A) $45,000
• B) $40,000
• C) $46,000
• D) $44,000

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Definitions:

Transactional Leadership

A management style focused on supervision, organization, and performance; leadership is based on a system of rewards and punishments.

Efficiently Designed Initiatives

Initiatives planned and executed with optimal resource utilization and effectiveness.

Transactional Leaders

Leaders who focus on the exchange process between themselves and their followers, emphasizing clear structures, tasks, and rewards for meeting objectives.

Transformational Leadership

A leadership style that inspires and motivates followers to achieve extraordinary outcomes by transforming their attitudes and assumptions.