Ella is calculating her net worth. she has listed these items: $170 jewelry, $20 borrowed from mom, cd player, $25 in savings account. which is not an asset?

Question

Alayna Rivera

Business

26 February, 21:42

Ella is calculating her net worth. she has listed these items: $170 jewelry, $20 borrowed from mom, cd player, $25 in savings account. which is not an asset?

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Spencer Wiggins · Answer 1

I would say the $20 borrowed from her mom would not be an asset as she must repay it since it is borrowed and therefore is not her own. The other items are assets for sure as they belong to her for sure so there is no doubt about them. I am afraid that I disagree with the answer because a CD player is just like a car for example which is included as an asset when you go to the bank for a loan ie it is a concrete material thing with a dollar value. On the other hand, the $20 borrowed from her mother does not belong to her so cannot be an asset as she must return it.