Name Three Ways to Protect and Maintain Your Wealth and Assets

question 91

Essay

Name three ways to protect and maintain your wealth and assets and maintain your standard of living.

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Definitions:

Consolidated Balance Sheet

A financial statement that combines the assets, liabilities, and shareholders' equity of a parent company and its subsidiaries into one document.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.

Book Value

The value of a company or asset according to its financial statements, calculated as total assets minus intangible assets (like patents) and liabilities.

Trademark

A recognizable sign, design, or expression which identifies products or services of a particular source from those of others.