When you prepare your personal balance sheet, remember that your ________ is equal to your total assets minus any liabilities you have.
A) net income
B) net worth
C) tax base
D) cash equivalent value

Question

Quizplus · Accepted Answer

Net worth is the amount by which your assets exceed your liabilities. It provides an estimate of your financial health and is a key component in determining your creditworthiness. Net income refers to the total earnings earned by an individual over a given time period, while tax base represents the portion of an individual's income that is taxable. Cash equivalent value refers to the value of an investment that can be easily converted into cash, such as stocks or bonds. None of these options are the correct answer to the given question.

When You Prepare Your Personal Balance Sheet, Remember That Your