The sum of the money and goods owned by a person at a given point of time is termed:
A) status.
B) assets.
C) wealth.
D) income.

Question

Quizplus · Accepted Answer

The term "wealth" specifically refers to the combined value of a person's assets, both tangible and intangible, at a given point in time. "Status" and "income" do not necessarily encompass all of a person's assets, while "assets" alone refers only to the tangible possessions a person owns.

The Sum of the Money and Goods Owned by a Person