Identify the Equation Element (Asset, Liability, Owner's Capital, Owner's Drawing

question 191

Essay

Identify the equation element (asset, liability, owner's capital, owner's drawing, revenue, or expense), the normal balances (debit or credit), and which side shows an increase and which side shows a decrease for the following accounts. Complete the table.

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Definitions:

Leadership Style

The characteristic manner and approach through which a leader exercises authority, guides and motivates a team, and implements strategies within an organization.

Power

The capacity or ability to direct or influence the behavior of others or the course of events.

Influence

The capacity to have an effect on the character, development, or behavior of someone or something.

Hersey-Blanchard

This refers to the Situational Leadership Model developed by Paul Hersey and Kenneth Blanchard, which suggests that successful leadership is achieved by selecting the right leadership style, which is contingent on the level of the followers' maturity.