Standard Costs

question 24

Multiple Choice

Standard costs:

• A) allow a manager to assess the efficiency of operations.
• B) allow a company to practice management by exception.
• C) provide management with a basis for performance evaluations.
• D) if set correctly, can provide a motivational tool for employees.
• E) all of the other answers are correct.

---

Definitions:

Inspirational Motivation

The ability of leaders to inspire and motivate followers to achieve higher levels of performance and commitment through a compelling vision and enthusiasm.

Intellectual Stimulation

The encouragement of creativity and critical thinking in others to inspire innovation.

Individualized Consideration

An aspect of transformational leadership where leaders attend to the needs of each follower, acting as a mentor or coach to the follower and listening to the follower's concerns and needs.

Idealized Influence

A leadership trait where the leader serves as a strong role model, gaining admiration, trust, and respect from followers, who emulate the leader's values and behaviors.