ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Net worth = assets-liabilities
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Net worth = liabilities-assets
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Net worth = net income-gross income
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net worth = liabilities + assets
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Detailed explanation-1: -To calculate your net worth, you subtract your total liabilities from your total assets. Total assets will include your investments, savings, cash deposits, and any equity that you have in a home, car, or other similar assets. Total liabilities would include any debt, such as student loans and credit card debt.
Detailed explanation-2: -Net worth is assets minus liabilities. Or, you can think of net worth as everything you own less all that you owe.
Detailed explanation-3: -In simple terms, net worth is the difference between your assets and your liabilities. Assets are all the things you own such as a house, investments accounts, cars. Liabilities being all the things you owe, such as a mortgage, credit cards, student loans, etc.
Detailed explanation-4: -It’s actually pretty straightforward how to calculate a company’s net worth: Total assets minus total liabilities = net worth.
Detailed explanation-5: -Net worth is the total value of all assets minus any liabilities. Put simply, net worth is what you own minus what you owe. Calculating net worth can be a helpful way to determine one’s wealth and the overall health of a person’s or company’s financial situation.