The Difference Between Assets and Liabilities Is Called

question 23

Multiple Choice

The difference between assets and liabilities is called

• A) surplus.
• B) deficit.
• C) net income.
• D) net worth.

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Definitions:

Overallocation of Resources

A situation where resources are distributed or utilized excessively in one area at the expense of others, leading to inefficiency.

Rising Health Care Costs

The increase in the price of services and goods within the healthcare sector over time, affecting consumers, insurers, and government budgets.

Real Wages

Wages adjusted for inflation, representing the purchasing power of income earned from work.

Fringe Benefit

Additional compensation provided to an employee beyond their regular salary, such as health insurance, pension plans, and paid time off.