Assets, Liabilities & Net Worth

Quiz

•

Mathematics

•

7th Grade

•

Medium

•

CCSS

7.NS.A.3, 7.EE.B.3, 6.NS.C.7C

Standards-aligned

Brenda Villarreal

Used 66+ times

FREE Resource

33 questions

Show all answers

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Charlie's net worth is -$35,354. Which of the following is true?

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

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

He has a negative 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

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following is considered an asset?

credit card debt

savings

car payoff

student loan

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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?

$19,450

-$16,320

$17,625

$1,825

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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.NS.A.3

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assets are best described as

monetary assets you own

financial debts and obligations for which you owe

your net worth

adjusted gross income

Tags

CCSS.7.RP.A.3

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

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