Which of the following statements about transactional leaders and the chain of command is FALSE? The chain of command is based on formal authority and responsibility in the organization The leader is given authority based on their position in the chain of command Chain of command promotes employee dependence which decreases accountability Subordinates are expected to follow directions given by leaders above them in the chain of command

Chain of command promotes employee dependence which decreases accountability

Explanation:

The above statement is false when it comes to transactional leaders and their chain of command. On the contrary, it promotes employee independence which only requires approval from their leaders for any major decision. This on the long run, increases accountability of the said process because, any given error could be easily be traced.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.