Emma Sold Her Home for $60,000 Cash and the Buyer's

question 4

Multiple Choice

Emma sold her home for $60,000 cash and the buyer's assumption of her mortgage of $210,000.Emma paid closing costs of $2,900 and a broker's commission of $13,000.What is the amount Emma realized on the sale?

• A)$17,100
• B)$20,000
• C)$254,100
• D)$257,000

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Definitions:

Top Management Group

Consists of the highest-level executives in an organization who are responsible for strategic decisions and overall direction.

Vice Presidents

High-ranking executives in a corporation who oversee specific departments or divisions, reporting directly to the president or CEO.

Functional Chimneys

describe siloed departments within an organization that operate independently and with limited interaction, potentially leading to inefficiencies and communication barriers.

Communication

The process of sharing information, ideas, or feelings between people through speaking, writing, or other mediums to achieve mutual understanding.