Sign up for FREE

Net Worth

Last updated over 5 years ago

6 questions

1

1

1

1

Question 1

1.

What type of item is credit card debt?

Asset

Liability

Net Worth

Question 2

2.

How much are the total assets in the table shown?

$95,000

$8,520

$19,750

$123,270

1

Question 3

3.

The net worth in this statement is $-400?

True

False

1

Question 4

4.

Can a net worth be negative? Why or why not?

Question 5

5.

Harold has a car worth $18,200. He has $525 in cash, and $2,800 in his savings account. His only debt is a loan for a car.

If Harold's net worth is $9,025, what is the amount of his loan?

$5,850

$9,025

$11,825

$12,500

Question 6

6.

Julian has a football card worth $125.50. He owes his parents $50 for buying a new video game. He has $25.25 saved in his piggy bank. What is Julian's net worth?

$150.75

$50

$75.25

$100.75