Your net worth, or your general level of financial worth, is found by A. subtracting your liabilities from your assets. B. dividing your monetary assets by your current liabilities. C. subtracting current liabilities from monetary assets. D. dividing monthly debt (less a mortgage payment) by monthly income. E. subtracting your expenses from your income.

Question

Jessie Rowland

Business

25 December, 10:13

Your net worth, or your general level of financial worth, is found by A. subtracting your liabilities from your assets. B. dividing your monetary assets by your current liabilities. C. subtracting current liabilities from monetary assets. D. dividing monthly debt (less a mortgage payment) by monthly income. E. subtracting your expenses from your income.

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Answers (1)

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Shelby Kaufman · Answer 1

A. Substracting your liabilities from your assets.

Explanation:

In essence, if you want to find out what your net worth is, you will have to sum your overall assets and subtract your liabilities. The overall assets include everything you possess, including the financial worth of your house and the money you have in your bank account. The liabilities, on the other hand, refer to the financial debts such as your credit card bill, property loans, etc.