A Family Has a Net Worth of $156,000 and Liabilities

question 77

Multiple Choice

A family has a net worth of $156,000 and liabilities of $167,000,what is the amount of their assets?

• A)$11,000
• B)$156,000
• C)$167,000
• D)$323,000
• E)$452,000

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Definitions:

Custom

Custom pertains to traditional practices, habits, or behaviors that are typical to a specific culture, society, or community.

Ideology

An arrangement of beliefs and values, especially one that establishes the groundwork for political or economic theories and strategies.

Cultural System

A complex set of values, beliefs, institutions, and artifacts that define a society and influence behavior and social norms.

Functional Areas

Distinct sectors within an organization or industry that specialize in specific aspects of the business operation, such as marketing, finance, human resources, and research and development.