Examlex
Which of the following is TRUE?
Assets
Resources owned by a business or individual that have economic value and can be converted into cash.
Liabilities
Financial obligations or debts that an entity owes to another party, which must be settled over time through the transfer of economic benefits.
Net Worth
The total value of an individual's or entity's assets minus their liabilities.
Total Value
The aggregate worth of a good, service, product, or other item as perceived by its users.
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