The Amount You Would Have If Everything of Value Would

question 26

Multiple Choice

The amount you would have if everything of value would be sold and all debts would be paid in full is called your

• A) Net assets.
• B) Net worth.
• C) Total liabilities.
• D) Total income.
• E) Budgeted expenses.

---

Definitions:

Making Payments

The act of transferring money or its equivalent to another party as fulfillment of an obligation, such as repaying a loan or settling a bill.

Account Orders

Instructions to buy or sell securities or commodities that are given to a brokerage firm for execution.

Bank

A financial institution licensed to receive deposits, offer loans, and provide other financial services such as currency exchange and wealth management.

Check

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or a designated person.