Westonci.ca is the premier destination for reliable answers to your questions, provided by a community of experts. Experience the ease of finding accurate answers to your questions from a knowledgeable community of professionals. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.
Sagot :
Final answer:
Net worth reflects assets after subtracting liabilities. Wealth encompasses all assets, while net worth accounts for assets minus liabilities.
Explanation:
Net worth is the estimated market value of assets after deducting liabilities. It is the sum of all assets minus all liabilities, representing an individual's or firm's financial position.
For example, if someone owns a house worth [tex]$300,000 and owes $[/tex]100,000 on a mortgage, their net worth would be $200,000.
Wealth is inclusive of all assets like investments, savings, and property, while net worth specifically considers these assets minus liabilities.
Learn more about Net worth, wealth, assets, liabilities here:
https://brainly.com/question/41101727
We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.