Jack Stanley graduated from college and obtained a full-time job in accounting. At the end of his first year of employment, his assets totaled $9,000. His liabilities totaled $3,000. His ____ was $6,000.
A) asset total
B) profit
C) net worth
D) cost of living
E) allocated total

Question

Quizplus · Accepted Answer

Net worth is calculated by subtracting liabilities from assets. In this case, $9,000 - $3,000 = $6,000.

Jack Stanley Graduated from College and Obtained a Full-Time Job