Asked by Manuel Antonio on Jun 19, 2024
Verified
Assets minus liabilities equals
A) net worth.
B) wealth.
C) depreciation.
D) Both A and B are correct.
Net Worth
The total assets minus total liabilities of an individual or company, representing the financial value of the entity.
Assets
Resources owned by a business or individual with economic value expected to provide future benefits.
Liabilities
Financial obligations or debts that an entity owes to others, which must be settled over time through the transfer of economic benefits.
- Ascertain financial standing by calculating the difference between assets and liabilities.
Verified Answer
CH
Clara HernandezJun 20, 2024
Final Answer :
D
Explanation :
Assets minus liabilities equals net worth, which is also a way to describe someone's wealth. Therefore, both A and B are correct.
Learning Objectives
- Ascertain financial standing by calculating the difference between assets and liabilities.