1. Property owned by an individual? A. Liability B. Asset C. Property D. Net Worth 2.Examples of Liabilities include which of the following: A. Loans, credit cards, and real property B. Loans, mortgage, and credit cards C. Loans, Art collection, and savings account D. Mortgage, credit card, and real property 3.Positive Net Worth is defined as: A. assets are less that liabilities B. liabilities are greater than assets C.assets are equal to liabilities D.assets are greater than liabilities

Q: wealth

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A:

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is