Suppose that Cathy's assets include an automobile worth $10,000 and a checking account with a $5,000 balance,while her liabilities include a student loan balance of $2,000 and a car loan balance of $8,000.What is her net worth?
A)$10,000
B)$8,000
C)$5,000
D)$2,000

Question

Quizplus · Accepted Answer

Net worth=Assets-Liabilities
=($10,000+$5,000)-($2,000+$8,000)
=$15,000-$10,000
=$5,000

Suppose That Cathy's Assets Include an Automobile Worth $10,000 and a Checking