INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select
-Your car has a market value of $10,000 while the balance of the loan against it is now $2,500.You will list this car as an asset worth of [$7,500 | $10,000].
A)for the first item
B)for the second item
C)if neither item will correctly complete the statement.

Question

Quizplus · Accepted Answer

The car should be listed as an asset worth $10,000, which is its market value. The loan balance does not affect the asset's value but rather represents a liability.

INSTRUCTIONS: Choose the Word or Phrase in [ ] Which