When Dividing Assets and Debt, There Are a Number of Types

question 46

Multiple Choice

When dividing assets and debt, there are a number of types of property to be negotiated. "Separate" property refers to _____.

• A) those assets owned by both spouses or acquired jointly during the marriage
• B) those assets owned individually, such as a piece of heirloom jewelry owned by one of the spouses
• C) homes, cars, furniture, jewelry, and pets
• D) property or assets that may not have a market value, but has inherent value, such as retirement benefits, bank certificates, or stocks

---

Definitions:

Profit Function

An equation or model that represents the total profit of a business, calculated as total revenue minus total costs.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Two-part Tariff

A pricing strategy that consists of a fixed fee plus a variable usage fee, common in services like utilities.

Entry Fee

An initial charge required to gain access to a service, event, or establishment.