INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select
-Your car has a market value of $4,000 while the balance of the loan against it is now $2,500.You will list this car as net worth of [$4,000 | $1,500].
A)for the first item
B)for the second item
C)if neither item will correctly complete the statement.

Question

Quizplus · Accepted Answer

Net worth is calculated as the market value of the asset minus any liabilities. Therefore, the net worth of the car is $4,000 (market value) - $2,500 (loan balance) = $1,500.

INSTRUCTIONS: Choose the Word or Phrase in [ ] Which