
Net Worth Practice
Flashcard
•
Mathematics
•
7th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
Student preview

15 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What is a liability?
Back
A liability is a financial obligation or debt that a person or organization owes to another party. Examples include loans, mortgages, and credit card debts.
2.
FLASHCARD QUESTION
Front
What are assets?
Back
Assets are monetary resources or items of value that a person or organization owns. Examples include cash, real estate, stocks, and personal property.
3.
FLASHCARD QUESTION
Front
How do you calculate Net Worth?
Back
Net Worth is calculated by subtracting total liabilities from total assets. Net Worth = Total Assets - Total Liabilities.
4.
FLASHCARD QUESTION
Front
What is an example of a liability?
Back
An example of a liability is a mortgage, which is a loan taken out to purchase property.
5.
FLASHCARD QUESTION
Front
What is an example of an asset?
Back
An example of an asset is savings in a bank account.
6.
FLASHCARD QUESTION
Front
If you have $10,000 in assets and $4,000 in liabilities, what is your Net Worth?
Back
Your Net Worth would be $6,000 ($10,000 - $4,000).
7.
FLASHCARD QUESTION
Front
What does it mean if your Net Worth is negative?
Back
A negative Net Worth means that your liabilities exceed your assets, indicating financial instability.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
11 questions
Comparative of superiority
Flashcard
•
7th Grade
15 questions
Single and Double digit vertical addition.
Flashcard
•
KG
12 questions
CVC WORDS
Flashcard
•
KG
13 questions
Body Systems
Flashcard
•
7th Grade
10 questions
Spelling-Homophones
Flashcard
•
6th Grade
15 questions
CVC Words
Flashcard
•
KG
15 questions
Free time & hobbies
Flashcard
•
KG - 6th Grade
15 questions
Multi-Step Equations
Flashcard
•
7th - 9th Grade
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
20 questions
Figurative Language Review
Quiz
•
6th Grade
Discover more resources for Mathematics
22 questions
distributive property
Quiz
•
7th Grade
20 questions
Graphing Inequalities on a Number Line
Quiz
•
6th - 9th Grade
16 questions
Adding and Subtracting Integers
Quiz
•
7th Grade
20 questions
One Step equations addition and subtraction
Quiz
•
5th - 8th Grade
25 questions
Complementary and Supplementary Angles
Quiz
•
7th - 10th Grade
15 questions
Area and Circumference of a Circle
Quiz
•
7th Grade
15 questions
One-Step Equations
Quiz
•
7th Grade
14 questions
Pythagorean Theorem
Quiz
•
6th - 8th Grade