If you have your net worth and assets, how do you get your liabilities?
1 answer:
Net worth is derived by subtracting liabilities from assets.
Net worth = Asset - Liabilities
Based from the above formula:
Asset = Liabilities + Net Worth
Liabilities = Asset - Net Worth
Liabilities = 15640 - 9456
Liabilities = 6184
Assets are your investments, properties, or any other income generating properties and activities
Liabilities are your debts and other accounts payable
Net worth is the net value of assets less liabilities
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