ECONOMICS (CBSE/UGC NET)

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: -The statement is true. Net worth is the value of the resources an individual or enterprise is entitled to claim after deducting the value of liabilities they owe. Hence, it is determined as the value of all assets minus the value of all liabilities.

Detailed explanation-3: -NET WORTH= TOTAL ASSETS – TOTAL LIABILITIES.

Detailed explanation-4: -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.

Detailed explanation-5: -Your net worth is the amount by which your assets exceed your liabilities, or what you have versus what you need to pay off. Assets include investments, bank accounts, brokerage accounts, retirement funds, real estate, and personal items like your car or jewelry.