Wealth or Net Worth Is Equal to

question 130

Multiple Choice

Wealth or net worth is equal to

• A) assets plus liabilities.
• B) assets minus liabilities.
• C) consumption plus changes in net worth.
• D) income minus savings.

---

Definitions:

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee named on the document.

Holder in Due Course

An individual in possession of a negotiable instrument, obtained in good faith and for value, and thereby has specific rights to enforce the instrument.

Irregular

Something that is not following the usual rules, patterns, or expected behavior; often refers to inconsistent or erratic actions.

Real Defenses

Legitimate legal defenses that can be used against claims in a transaction, particularly in the context of negotiable instruments, such as fraud or illegality.