The Personal Balance Sheet Equation Is

question 127

Multiple Choice

The personal balance sheet equation is

• A)Total Assets / Total Liabilities = Net Worth.
• B)Total Assets × Total Liabilities = Net Worth.
• C)Total Assets − Total Liabilities = Net Worth.
• D)Total Assets + Total Liabilities = Net Worth.
• E)Total Liabilities − Total Assets = Net Worth.

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Definitions:

Social Benefits

The positive impacts on society as a whole from an action or policy, including improvements in well-being, equity, and community life.

Moral Standards

Principles that govern behaviors, distinguishing right from wrong based on societal, cultural, or personal values and ethics.

Ethics

Moral principles that govern behavior, distinguishing between what is right and wrong.

Folkways

Norms for routine or casual interaction that guide everyday behavior in a society.