The Three Parts of Your Personal Balance Sheet Are

question 40

Multiple Choice

The three parts of your personal balance sheet are

• A)income, liabilities, balance.
• B)assets, expenditures, balance.
• C)assets, liabilities, balance.
• D)assets, liabilities, net worth.
• E)income, liabilities, net worth.

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Definitions:

Union

In mathematics, especially in set theory, the union of a collection of sets is the set that contains all elements that are a member of any set within the collection.

Random Events

Outcomes or occurrences that cannot be predicted with certainty due to the random nature of the underlying process.

Probability Space

The mathematical framework for probability in which a sample space, together with a probability measure, models the outcome of a random experiment.

First Grader

A student in the first grade of school, typically aged six to seven years old, in the initial stage of formal education.