Net Worth

Multiple Choice

Assets are best described as

• money or property you own

• financial debts and obligations for which you owe
• your net worth
• adjusted gross income

Multiple Choice

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

• Liabilities

• Assets

• Negative Net Worth

• Property

Multiple Choice

The Balance On your Credit Card would be considered a/an

• asset

• liability

Multiple Choice

Which of the following is an asset?

• mortgage

• school loan

• jewelry

• credit card bill

Multiple Choice

Assets-Liabilities=

• assets

• expenses

• net worth

• savings

Multiple Choice

Jin's total assets are $8,794.  Her liabilities are $6,292.  What is her net worth?

• $6,124
• $15,086
• -$4,328
• $2,502

Multiple Choice

Based on the chart above, what is the Net Worth?

• $16,840

• $50,850

• $34,010

• $67,690

Multiple Choice

You can have negative Net Worth.

• True

• False

Multiple Choice

The table below shows Claude's assets and liabilities. What is his net worth?

• $24,950

• $-25,420

• -$24,950

• $25,420

Multiple Choice

The table shows Peter's net worth statement. Assets are positive and liabilities are negatives. Peter's net worth is $101,800. Based on the information in the table, what is the current value of Peter's house?

• $58,600

• $98,000

• $78,300

• $82,100