Assets that a person accumulates and owns at a certain point in time are called:
A) Income.
B) Equity.
C) Wealth.
D) Microfinance.

Question

Quizplus · Accepted Answer

Wealth refers to the total value of all assets that a person owns at a certain point in time, including financial assets (such as savings and investments), property, and possessions. Income is the amount of money that a person earns on a regular basis, while equity refers to the value of an asset minus any outstanding debts or liabilities. Microfinance is a financial service that provides small loans and other financial services to low-income individuals and groups who typically lack access to traditional banking services.

Assets That a Person Accumulates and Owns at a Certain