Which of the Following Statements About Leaders and Managers Is

question 109

Multiple Choice

Which of the following statements about leaders and managers is true?

• A) Organizations need both leaders and managers.
• B) Leaders are critical to getting out the day-to-day work.
• C) Managers are critical to inspiring employees and setting long-term direction.
• D) Most organizations place greater emphasis on leadership than on management.
• E) All of these statements about leaders and managers are true.

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Definitions:

Financial Statements

Formal records of the financial activities and position of a business, organization, or person, including balance sheets, income statements, and cash flow statements.

Adjusting Entries

Journal entries made in accounting to update the accounts and bring them to their correct balances before the preparation of financial statements.

Period End

The conclusion of a specific accounting period, at which point financial statements are prepared.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenditure to the appropriate periods.