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28-07-2022
Social Studies

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When you prepare your personal balance sheet, remember that your __________ is equal to your total assets minus any liabilities you have.

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Tutorconsortium340 Tutorconsortium340

04-08-2022

Your Net Worth is equal to your total assets minus any liabilities you have.

What is Net Worth in Business?

Net worth is another term for book value or shareholders' equity in the business world. A net worth statement is another name for the balance sheet. The difference between a corporation's total assets and total liabilities is equivalent to the equity value of that company. It should be noted that historical expenses or book values, rather than current market prices, are highlighted on a company's balance sheet.

What is Net Worth in Personal Finance?

Your personal net worth is the sum of all you possess (your assets) and everything you owe (your liabilities). It's critical to know your net worth for two reasons: It enables you to comprehend your financial status right now. It offers you a point of comparison for tracking your goals' advancement.

Therefore, When you prepare your personal balance sheet, remember that your Net Worth is equal to your total assets minus any liabilities you have.

For more information on Net Worth, refer to the following link

https://brainly.com/question/27235433

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