Suppose that Jacob's assets include a motorcycle worth $12,000 and a checking account with a $3,000 balance,while his liabilities include a credit card balance of $4,000 and a motorcycle loan balance of $7,000.What is his net worth?
A)$4,000
B)$5,000
C)$7,000
D)$12,000

Question

Quizplus · Accepted Answer

Net worth = Assets - Liabilities = ($12,000 + $3,000) - ($4,000 + $7,000) = $4,000

Suppose That Jacob's Assets Include a Motorcycle Worth $12,000 and a Checking