A Family with $45,000 in Assets and $22,000 in Liabilities

question 25

Multiple Choice

A family with $45,000 in assets and $22,000 in liabilities would have a net worth of

• A) $45,000.
• B) $23,000.
• C) $22,000.
• D) $67,000.

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Definitions:

Thirty Years' War

A series of conflicts in Central Europe between 1618 and 1648, primarily fought over religious freedom and territory, but also involving dynastic concerns.

Peace of Westphalia

A series of peace treaties signed in 1648 that ended the Thirty Years' War in Europe, marking a turning point in international law by recognizing the concept of national sovereignty.

1648

The year that marked the end of the Thirty Years' War in Europe with the signing of the Peace of Westphalia, leading to a new political and religious order.

Fundamental Conflicts

Core disagreements or confrontations that are basic or essential to the nature of a situation, often driving the narrative or outcome.