To Determine Your Level of Net Worth, Subtract Your Liabilities

question 35

True/False

To determine your level of net worth, subtract your liabilities from your positive net equity.

---

Definitions:

Recognition

The cognitive process of identifying previously encountered objects, events, or people, indicating the ability to remember them.

Cued Matching

A memory recall strategy that involves matching information to specific cues or contexts to aid retrieval.

Cued Recall

A process in memory recall in which a person successfully remembers an item with the help of cues or hints.

Savings

Money that has been set aside for future use, typically stored in a financial institution or invested, allowing for growth over time.