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- 1. Multiple Choice
Property owned by an individual
Liability
Asset
Property
Net Worth
- 2. Multiple Choice
Debts and financial obligations (responsibilities).
Liabilities
Assets
Negative Net Worth
Property
- 3. Multiple Choice
Examples of Liabilities include which of the following:
Loans, credit cards, and real property
Loans, mortgage, and credit cards
Loans, Art collection, and savings account
Mortgage, credit card, and real property
- 4. Multiple Choice
Examples of assets include:
Real Property, Car, and credit cards
Car, Jewelry, and Checking account
Art collection, Jewelry, and unpaid taxes
Real Property, Car loan, Jewelry
- 5. Multiple Choice
Net Worth if equal to:
Liabilities added to assets
Assets minus liabilities
Assets added to liabilities
- 6. Multiple ChoiceWhich of the following is considered an asset?Bank LoanMortgageDebit CardSavings account
- 7. Multiple ChoiceWhich of the following is considered a liability?Savings AccountMortgageSavings bondCoin Collection
- 8. Multiple ChoiceSusie has assets worth $87,000 and a net worth of $32,000. What is the amount of her liabilities?$119,000$45,000$55,000$32,000
- 9. Multiple Choice
The table below shows Claude's assets and liabilities. What is his net worth?
$24,950
$-25,420
-$24,950
$25,420
- 10. Multiple Choice
Abby lives in a home worth $115,000. She has a loan of $98,000 and has a credit card balance of $2,300. She has a car that is worth 5,800. She also has a checking account with a balance of $900 and $300 in gift cards. What is Abby's net worth?
127,200
105,500
232,700
21,700
- Answer choicesTagsAnswer choicesTags