A Personal Balance Sheet Is Comprised of

question 74

Multiple Choice

A personal balance sheet is comprised of

• A) your assets, liabilities and net worth.
• B) your loans and credit card balances.
• C) monthly loan, credit card and other "fixed" payments.
• D) gross monthly income less "fixed" payments.

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Definitions:

Services Provided

Activities performed by a company or individual for the benefit or use of another party, typically in exchange for compensation.

Debit

An entry on the left side of an account ledger, indicating an increase in assets or expenses, or a decrease in liabilities, equity, or revenue.

Credit

A bookkeeping entry that increases the balance of liabilities and revenue accounts, or decreases the balance of an asset or expense account.

Accounts Receivable

Liabilities customers hold towards a business for the delivery of goods or services that have not been paid off.