Net Worth

Which of the following is considered an asset?

• credit card debt
• savings
• car payoff
• student loan

Assets are best described as

• monetary assets you own
• financial debts and obligations for which you owe
• your net worth
• adjusted gross income

Net worth is found by

• subtracting expenses from income
• dividing monetary assets by current liabilities
• subtracting liabilities from assets
• dividing monthly debt by monthly income

Which of the following is considered an asset?

• Bank Loan
• Mortgage
• Debit Card
• Savings account

Which of the following is considered a liability?

• Savings Account
• Mortgage
• Savings bond
• Coin Collection

Which of the following best describes a person's net worth?

• a person's liability
• difference between a person's income and a person's expenses
• difference between a person's assets and a person's liabilities
• The value of a person's home

Jin'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

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

Nomar's net worth is $15,354.  Which of the following is true?

• He has a positive net worth which means his assets are greater than his liabilities. 
• He has a negative net worth which means his liabilities are greater than his assets.
• He has a positive 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.

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

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

Tags

CCSS.7.NS.A.1B

Negative Net Worth is defined as:

• Assets and liabilities are the same amount

• Assets are less that liabilities

• Liabilities are less that assets

• Assets are greater than liabilities

Tags

CCSS.6.NS.C.7C