Net worth

Front

Property owned by a person or company, regarded as having value is an __________

Back

asset

Front

Assets - Liabilities = __________

Back

net worth

Front

What is another word for house payment?

Back

Mortgage

Front

You can have negative Net Worth. True or False?

Back

True

Front

If Assets = $20,000 and Liabilities = $50,000, what is the net worth?

Back

- $30,000

Front

What is the definition of liabilities?

Back

Liabilities are financial obligations or debts owed to others.

Front

What does net worth represent?

Back

Net worth represents the difference between total assets and total liabilities.

Front

If you have $10,000 in assets and $5,000 in liabilities, what is your net worth?

Back

$5,000

Front

What is an example of an asset?

Back

Cash, real estate, stocks, or personal property.

Front

What is an example of a liability?

Back

Loans, mortgages, credit card debt.