ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the total value of your personal assets.
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the difference between your personal assets and your liabilities.
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the total amount of all of your investments.
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what you have left over in your paycheck each week after deductions are taken out.
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Detailed explanation-1: -Your net worth is the amount by which your assets exceed your liabilities. In simple terms, net worth is the difference between what you own and what you owe. If your assets exceed your liabilities, you have a positive net worth.
Detailed explanation-2: -Net worth is the total value of assets minus any liabilities or debt. Net worth can be a helpful snapshot of a person’s or company’s wealth. Positive net worth might be a sign of good financial health. Negative net worth might be a sign of poor financial health.
Detailed explanation-3: -Assets include the value of securities and funds held in checking or savings accounts, retirement account balances, trading accounts, and real estate. Liabilities include any debts the individual may have including personal loans, credit cards, student loans, unpaid taxes, and mortgages.