Question

Nico has a net worth of $150,000. Nico sold all of his assets for cash and used that cash to pay off all debts and obligations. In theory, how much cash would remain with Nico

Answer 1

The cash that should remain with Nico is $150,000.

The following information should be considered:

• Net worth represents the wealth of an individual & company.
• It shows a difference between the assets & liabilities.

Given that,

• The net worth is $150,000.
• As the assets are sold for cash and used to pay off the debts.

Therefore we can conclude that the cash that should remain with Nico is $150,000.

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