A family with $70,000in assets and $22,000 of liabilities would have a net worth of:
A)$70,000.
B)$22,000.
C)$48,000
D)$92,000.
E)$41,000.

Name: A family with $70,000in assets and $22,000 of liabilities would have a net worth of: A)$70,000. B)$22,000. C)$48,000 D)$92,000. E)$41,000.
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Question

Quizplus · Accepted Answer

Net worth is calculated by subtracting liabilities from assets. 
Net worth = Assets - Liabilities 
Net worth = $70,000 - $22,000 
Net worth = $48,000 
Therefore, the correct answer is C) $48,000.

A Family with $70,000in Assets and $22,000 of Liabilities Would