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Describe the three broad classes of budgets.
Additional Investment
Extra funds invested into a business by its owners or shareholders over and above the initial or previous investments.
Net Income
The total earnings of a company after all expenses and taxes have been deducted from revenue.
Owner's Equity
The residual interest in the assets of an entity after deducting liabilities, representing the ownership interest in the company.
Owner's Drawings
The funds taken from the business by the owner for personal use, not considered as salary or wages.
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