Net Worth Lesson

Which of the following is an example of an asset

• CC Debt

• Accounts Payable
• Loan Payable
• Cash

Which of the following is NOT an example of a Liability?

• Asset
• Loan

• CC Debt

• Car Payment

How do you find your Net Worth?

• Net Worth = Total Assets + Total Liabilities
• Net Worth = Total Assets - Total Liabilities
• Net Worth = Total Income + Total Expenses
• Net Worth = Total Savings - Total Investments

How do you calculate Net Worth?

• Net Worth = Total Assets + Total Liabilities
• Net Worth = Total Assets / Total Liabilities
• Net Worth = Total Assets - Total Liabilities
• Net Worth = Total Income + Total Expenses

If Amanda's total assets were $72,845 and her total liabilities were $29,800 what is Amanda's Net Worth?

• $43,800
• $29,800
• $43,045
• $72,845

If your Net Worth = $230,735, and your Total Assets are $245,000. What information do you need to solve for?

• Total Income
• Total Expenses
• Investment Returns
• Total Liabilities

Rewrite the following formula to solve for L (Liabilities).
Net Worth = Total Assets - Total Liabilities

• L = Net Worth - Total Assets
• L = Total Assets - Net Worth
• L = Total Liabilities + Net Worth
• L = Total Assets + Total Liabilities

True or False
To calculate the Net worth I need to ADD my total assets and total liabilities.

• True

• False

Assets are represent by_______________ numbers

Liabilities are represented by __________ numbers