Assets, Liabilities & Net Worth

Charlie's net worth is -$35,354.  Which of the following is true?

• He has a positive net worth which means his assets are greater than his liabilities. 
• He has a positive net worth which means his liabilities are greater than his assets.
• He has a negative net worth which means his liabilities are greater than his assets.
• He has a negative net worth which means his assets are greater than his liabilities 

Tags

CCSS.7.NS.A.1B

Nomar's net worth is $15,354.  Which of the following is true?

• He has a positive net worth which means his assets are greater than his liabilities. 
• He has a negative net worth which means his liabilities are greater than his assets.
• He has a positive net worth which means his liabilities are greater than his assets.
• He has a negative net worth which means his assets are greater than his liabilities.

Tags

CCSS.6.NS.C.7C

Which of the following is considered an asset?

• credit card debt
• savings
• car payoff
• student loan

Isadora rents an apartment for $1,000 a month and has a year's lease.  She owns a car that is worth $14,700.  She has a savings account of $4,750 and a credit card balance of $825.  What is her net worth?

• $19,450
• -$16,320
• $17,625
• $1,825

Tags

CCSS.7.EE.B.3

Jin's total assets are $8,794.  Her liabilities are $2,670 in credit card debt and $3,622 for a student loan.  What is her net worth?

• $6,124
• $15,086
• -$4,328
• $2,502

Tags

CCSS.7.NS.A.3

Assets are best described as

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

Tags

CCSS.7.RP.A.3

Net worth is found by

• subtracting expenses from income
• dividing monetary assets by current liabilities
• subtracting liabilities from assets
• dividing monthly debt by monthly income

Tags

CCSS.7.RP.A.3

Bank Loan

• Asset
• Liability

Boat's Worth

• Asset
• Liability

Car's Worth

• Asset
• Liability

Tags

CCSS.HSA.SSE.A.1