TEKS.MATH.7.13C

Items that are owned by an individual

• assets
• liabilities
• property
• expenses

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TEKS.MATH.7.13C

Last week, you wrote 2 checks for $45 each from your checking account, withdrew another $30, and finally made a deposit of $20. What was the change in the balance of your account over the week?

• -100
• 100
• -40
• 40

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TEKS.MATH.7.13C

Abby lives in a home worth $115,000.  She has a mortgage of $98,000.  she owes $5,200 on her car that is worth $11,000.  she has a credit card balance of $2,300.  she also has a checking account with a balance of $900 and $300 in gift cards.  What is Abby's net worth?

• 127,200
• 105,500
• 232,700
• 21,700

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TEKS.MATH.7.13C

Property owned by an individual

• Liability

• Asset

• Property

• Net Worth

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TEKS.MATH.7.13C

The value of all assets minus the value of all liabilities.

• Financial obligations

• Assets

• Net Worth

• Property

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TEKS.MATH.7.13C

Examples of Liabilities include which of the following:

• Loans, credit cards, and real property

• Loans, mortgage, and credit cards

• Loans, Art collection, and savings account

• Mortgage, credit card, and real property

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TEKS.MATH.7.13C

Positive Net Worth is defined as:

• assets are less that liabilities

• liabilities are greater than assets

• assets are equal to liabilities

• assets are greater than liabilities

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TEKS.MATH.7.13C

Jane'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

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TEKS.MATH.7.13C

Abby lives in a home worth $115,000. She has a loan of $98,000 and has a credit card balance of $2,300. She has a car that is worth 5,800. She also has a checking account with a balance of $900 and $300 in gift cards. What is Abby's net worth?

• 127,200

• 105,500

• 232,700

• 21,700

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TEKS.MATH.7.13C

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 

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TEKS.MATH.7.13C