The three parts of your balance sheet are your:
A) income,liabilities,and net worth.
B) assets,expenditures,and net worth.
C) assets,liabilities,and expenses.
D) assets,liabilities,and net worth.
E) income,liabilities,and assets.

Question

Quizplus · Accepted Answer

The three parts of a balance sheet are assets, liabilities, and net worth. Assets are what you own, liabilities are what you owe, and net worth is the difference between the two. This gives a clear picture of a person's financial position, as it shows what they own, what they owe, and what their overall worth is.

The Three Parts of Your Balance Sheet Are Your