John's house is worth 180,000 and he owes $142,500 on it. Which statement best describes how this affects his net worth?

A. Jon's house is considered a liability only because he still owes money on it.

B. Jon has an $180,000 asset and a $142,500 liability.

C. Jon has a $142,500 asset and an $180,000 liability.

D. Jon's house is considered an asset only because it is worth more than he owes.

Question

8 August, 07:24

+2

Answers (2)

Know the Answer?

Aidyn Mclean · Answer 1

Aidyn Mclean 8 August, 07:31

0

Answer: The correct answer is B

Ryker Watts · Answer 2

If it is a multiple choice, the answers are B and D.

If it is not a multiple choice, the answer is B.

Best of luck.