Describe the Different Kinds of Power

question 6

Essay

Describe the different kinds of power. Are some types of power more likely to result in ethical behavior than others?

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Definitions:

Equipment

Tangible assets used in the operations of a business, not intended for sale, and depreciated over time.

Drawing Account

An account that tracks the amount withdrawn by the owners from the business for personal use.

Credit Balance

The amount appearing on the credit side of a ledger, indicating the total credits exceed the total debits in an account.

Debit Balance

It is the remaining amount owing in an account after all debits and credits have been accounted for, typically found in asset and expense accounts.