8 If an individual has total assets of $50,000 and total liabilities of $20,000, what is their networth? $30,000 $20,000 $50,000 $70,000

Net worth is the value of an individual's net assets. It is calculated by deducting the total…

Answered: If an individual has total assets of…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 16MC: If current assets are $100,000 and current liabilities are $42,000, what is the working capital? A....

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If an individual has total assets of $50, 000 and total liabilities of $20,000, what is their net worth? $30,000 $20,000 $50,000 $70,000