Net Worth Increase + Living Expenses =

question 33

Multiple Choice

Net Worth Increase + Living Expenses =

• A)Income
• B)Funds from known sources
• C)Liabilities
• D)Assets

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Definitions:

Sheriff's Sale

A public auction of property repossessed by the government as a result of the owner's failure to comply with legal obligations, such as unpaid taxes or mortgage.

Capital Balances

The amount of money that owners have invested in a business, typically shown in the equity section of the balance sheet.

Ending

The final balance or the concluding part of a financial statement or period.

Capital Balances

The amount of money invested in a business by its owners plus the retained earnings (or minus the losses).