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Net Worth

Total questions: 36

Worksheet time: 2hrs 46mins

Name
Class
Date
1.

Property owned by a person or company, regarded as having value is an __________

a)

asset

b)

liability

c)

net worth

d)

pizza

2.

What is another word for house payment?

a)

Wages

b)

Net Worth

c)

Mortgage

d)

Book

3.

The difference of what you own and what you owe (the difference between assets and liabilities)

a)

asset

b)

liability

c)

net worth

d)

coconut

4.

Assets-Liabilities=

a)

assets

b)

expenses

c)

net worth

d)

savings

5.

Assets=$20,000

Liabilities=$50,000

What is the net worth?

a)

$80,000

b)

- $80,000

c)

$30,000

d)

- $30,000

6.

Which of the following is an asset?

a)

mortgage

b)

school loan

c)

jewelry

d)

credit card bill

7.

You can have negative Net Worth.

a)

True

b)

False

8.

A thing for which someone is responsible, especially a debt or financial obligation is a _____.

a)

asset

b)

liability

c)

net worth

d)

bacon

9.

Bills and Loans are examples of ________?

a)

Assets

b)

Liabilities

c)

Net worth

d)

Pickles

10.

Based on the chart above, what is the Net Worth?

a)

$16,840

b)

$50,850

c)

$34,010

d)

$67,690

11.
Which of the following is considered an asset?
a)
credit card debt
b)
savings
c)
car payoff
d)
student loan
12.
Nomar's net worth is $15,354.  Which of the following is true?
a)
He has a positive net worth which means his assets are greater than his liabilities. 
b)
He has a negative net worth which means his liabilities are greater than his assets.
c)
He has a positive net worth which means his liabilities are greater than his assets.
d)
He has a negative net worth which means his assets are greater than his liabilities.
13.

The table below shows Claude's assets and liabilities. What is his net worth?

a)

$24,950

b)

$-25,420

c)

-$24,950

d)

$25,420

14.

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?

a)

$6,124

b)

$15,086

c)

-$4,328

d)

$2,502

15.
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?
a)
$19,450
b)
-$16,320
c)
$17,625
d)
$1,825
16.

a)

$127,000

b)

$40,000

c)

$95,000

d)

$135,000

17.

Property owned by an individual

a)

Liability

b)

Asset

c)

Property

d)

Net Worth

18.

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

a)

Financial obligations

b)

Assets

c)

Net Worth

d)

Property

19.

Debts and financial obligations (responsibilities).

a)

Liabilities

b)

Assets

c)

Negative Net Worth

d)

Property

20.

Examples of Liabilities include which of the following:

a)

Loans, credit cards, and real property

b)

Loans, mortgage, and credit cards

c)

Loans, Art collection, and savings account

d)

Mortgage, credit card, and real property

21.

Positive Net Worth is defined as:

a)

assets are less that liabilities

b)

liabilities are greater than assets

c)

assets are equal to liabilities

d)

assets are greater than liabilities

22.

Negative Net Worth is defined as:

a)

Assets and liabilities are the same amount

b)

Assets are less that liabilities

c)

Liabilities are less that assets

d)

Assets are greater than liabilities

23.

Examples of assets include:

a)

Real Property, Car, and credit cards

b)

Car, Jewelry, and Checking account

c)

Art collection, Jewelry, and unpaid taxes

d)

Real Property, Car loan, Jewelry

24.

Zero net worth is defined as:

a)

Assets are greater than liabilities

b)

Assets are less than liabilities

c)

Assets are equal to liabilities

d)

None of the above

25.

Net Worth if equal to:

a)

Liabilities added to assets

b)

Assets minus liabilities

c)

Assets added to liabilities

26.
Which of the following is considered an asset?
a)
Bank Loan
b)
Mortgage
c)
Debit Card
d)
Savings account
27.
Which of the following is considered a liability?
a)
Savings Account
b)
Mortgage
c)
Savings bond
d)
Coin Collection
28.
Susie has assets worth $87,000 and a net worth of $32,000.  What is the amount of her liabilities? 
a)
$119,000
b)
$45,000
c)
$55,000
d)
$32,000
29.
The table below shows Claude's assets and liabilities.  What is the total value of his assets?
a)
$24,950
b)
$25,420
c)
-$24,950
d)
$50,370
30.
The table below shows Claude's assets and liabilities.  What is the total value of his liabilities?
a)
$24,950
b)
-$24,520
c)
$25,420
d)
$50,370
31.

The table below shows Claude's assets and liabilities. What is his net worth?

a)

$24,950

b)

$-25,420

c)

-$24,950

d)

$25,420

32.
Charlie's net worth is -$35,354.  Which of the following is true?
a)
He has a positive net worth which means his assets are greater than his liabilities. 
b)
He has a positive net worth which means his liabilities are greater than his assets.
c)
He has a negative net worth which means his liabilities are greater than his assets.
d)
He has a negative net worth which means his assets are greater than his liabilities 
33.

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?

a)

127,200

b)

105,500

c)

232,700

d)

21,700

34.
Nomar's net worth is $15,354.  Which of the following is true?
a)
He has a positive net worth which means his assets are greater than his liabilities. 
b)
He has a negative net worth which means his liabilities are greater than his assets.
c)
He has a positive net worth which means his liabilities are greater than his assets.
d)
He has a negative net worth which means his assets are greater than his liabilities.
35.
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?
a)
$19,450
b)
-$16,320
c)
$17,625
d)
$1,825
36.

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?

a)

$6,124

b)

$15,086

c)

-$4,328

d)

$2,502

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