Net Worth

You have a car that is worth 22,000.

• This is an asset.

• This is a liability.

• This is your net worth.

Your mortgage is $25,000.

• This is a liability.

• This is an asset.

• This is your net worth.

A retirement account of $300,000 is

• a liability.

• an asset.

• your net worth.

Your total assets are $200,000.

Your total liabilities are 100,000.

What is your net worth?

• $300,000

• $100,000

• Not here.

Your total assets: $900,000.

Your total liabilities: $400,000.

What is your net worth?

• $1,300,000

• $400,000

• $500,000

• Not here

You have land that is worth $200,000.

• This is an asset.

• This is a liability.

• This is your net worth.

Assets are best described as

• money or property you own

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

Debts or money you owe (you are responsible for paying back).

• Liabilities

• Assets

• Negative Net Worth

• Property

Bills and Loans are examples of ________?

• Assets

• Liabilities

• Net worth

• Pickles

Which of the following is an asset?

• mortgage

• school loan

• jewelry

• credit card bill