Statement of financial position

NET WORTH =

• Gross Income

• Net Income

• Salary

• Wealth

The measure of financial wealth

• Net Worth

• Wealth

• Gross income

• monetary value

Indicates the monetary value of all possessions that a person or household owns, minus the total amounts owed to others

• Wealth

• Net Worth

• Loans

Depends on how a person manages their income

• Income

• Wages

• Salary

• Net Worth

Money received such as wages earned from working for pay

• Income

• Net Worth

• Sales

• Taxes

A financial state that describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worth

• Statement of financial position

• business plan

• Medicare

• SSI

everything a person owns with monetary value

• Liabilities

• asset

• net worth

Cash is a

• asset

• liabilities

• net worth

value of personal possessions

• net worth

• asset

• wages

can be quickly and easily converted into cash

• monetary assets

• net worth

• tangible asset