Net Worth

Net Worth

Assessment

Flashcard

Mathematics

7th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

quiz-placeholder

15 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What are assets?

Back

Assets are money or property you own.

2.

FLASHCARD QUESTION

Front

What are liabilities?

Back

Liabilities are debts or money you owe (you are responsible for paying back).

3.

FLASHCARD QUESTION

Front

What is an example of a liability?

Back

A mortgage is an example of a liability.

4.

FLASHCARD QUESTION

Front

Which of the following is an asset: mortgage, school loan, jewelry, or credit card bill?

Back

Jewelry is an asset.

5.

FLASHCARD QUESTION

Front

What is the value of land you own worth $200,000 classified as?

Back

This is an asset.

6.

FLASHCARD QUESTION

Front

What is net worth?

Back

Net worth is the difference between your total assets and total liabilities.

7.

FLASHCARD QUESTION

Front

If you have $50,000 in assets and $20,000 in liabilities, what is your net worth?

Back

Your net worth is $30,000.

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?