Asked by Alexis Singleton on Jun 09, 2024
Verified
During 2016, Yolanda's assets equal $200,000 and her net worth is $50,000. Yolanda's liabilities are
A) $50,000.
B) $150,000.
C) $200,000.
D) $250,000.
Net Worth
Net Worth is the total value of an individual's or entity's assets minus liabilities, indicating financial health or wealth at a point in time.
Assets
Resources owned by a person or business that have economic value or expected future benefit.
Liabilities
Financial obligations or debts owed by a person or company to others.
- Compute net value by deducting liabilities from assets.
Verified Answer
PH
paulette HeltonJun 16, 2024
Final Answer :
B
Explanation :
Net worth is calculated as assets minus liabilities. Therefore, if Yolanda's assets are $200,000 and her net worth is $50,000, her liabilities must be $150,000 ($200,000 - $50,000 = $150,000).
Learning Objectives
- Compute net value by deducting liabilities from assets.