Personal Financial Literacy: Assets and Liabilities Quiz

What is an example of an asset for Jose?

Select all answers that apply.

• Condo

• Credit card debt

• Store-financed home theater

• New car

Categorize Jose's assets and liabilities:

Groups:

(a) Jose's Assets

,

(b) Jose's Liabilities

• New car

• Credit card debt

• Copyrighted mobile app

• Condo

• Store-financed home theater

Categorize Maria's assets and liabilities:

Groups:

(a) Maria's Assets

,

(b) Maria's Liabilities

• Home mortgage

• Car loan

• Retirement account

• Student loan

Which of the following is a liability for Maria?

• Home mortgage

• Retirement account

• Car

• Bobblehead collection

Which of the following is a liability for Jose?

• Credit card debt

• Condo

• Copyrighted mobile app

• New car

What is an example of a liability for Andrea?

• $1,300 bank loan

• Savings account

• Car

• Bobblehead collection

Which of the following is an asset for Maria?

• Retirement account

• Student loan

• Home mortgage

• Car loan

Which of the following is an asset for Andrea?

• Car

• Credit card balance

• $1,300 bank loan

• Car loan

Which of the following is a liability/liabilities for Maria?

Select all answers that apply.

• Student loan

• Retirement account

• Car

• Savings account

What is an example of an asset for Jose?

• New car

• Credit card debt

• Store-financed home theater

• Home mortgage