The final step in preparing the master budget is summarizing the company's financial position through the________________.
Fill in the blank(s) with the appropriate word(s).
Ans: budgeted balance sheet
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Smith sold a home to Jones on a land contract and recorded the contract. Jones made a $25 down payment and after the sale, made a few of the required monthly payments. One night Jones moved out and abandoned the house. Which of the following is true?
A: A buyer who later bought the property for cash would have no concern about Jones; B: A deficiency judgment could be obtained by Jones; C: There is a cloud on the title; D: The title is very marketable.
Bridget prefers rule-regulated, orderly, and unambiguous activities. She doesn't have a lot of imagination but could be described as conforming and efficient. Which of the following describes Bridget's personality?
A) anti-social B) dull C) conservative D) conventional