Net worth

Flashcard
•
Mathematics
•
7th Grade
•
Easy
Standards-aligned
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15 questions
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1.
FLASHCARD QUESTION
Front
What is net worth?
Back
Net worth is the difference between a person's total assets and total liabilities. It indicates the financial health of an individual or entity.
Tags
CCSS.7.NS.A.1B
2.
FLASHCARD QUESTION
Front
How do you calculate net worth?
Back
Net worth = Total Assets - Total Liabilities.
Tags
CCSS.6.NS.C.5
3.
FLASHCARD QUESTION
Front
What are assets?
Back
Assets are valuable resources owned by an individual or company, such as cash, real estate, and investments.
4.
FLASHCARD QUESTION
Front
What are liabilities?
Back
Liabilities are financial obligations or debts that an individual or company owes to others, such as loans and credit card debt.
5.
FLASHCARD QUESTION
Front
If assets are $50,000 and liabilities are $30,000, what is the net worth?
Back
Net worth = $50,000 - $30,000 = $20,000.
Tags
CCSS.6.NS.C.5
6.
FLASHCARD QUESTION
Front
If assets are $20,000 and liabilities are $50,000, what is the net worth?
Back
Net worth = $20,000 - $50,000 = -$30,000.
Tags
CCSS.6.NS.C.7C
7.
FLASHCARD QUESTION
Front
What does a positive net worth indicate?
Back
A positive net worth indicates that assets are greater than liabilities, meaning the individual or entity is financially healthy.
Tags
CCSS.7.NS.A.1B
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