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Financial Position
Term | Definition |
---|---|
Asset | Items of Monetary value a person or household owns. |
Exspense | Money Spent. |
Income | Money Earned. |
Investment Asset | Items purchased with hope of bringing income in the future. |
Liability | A debt or obligation owed to others. |
Market Value | The amount you can realistically sell an asset for today. |
Monetary Asset | Assets that can be converted into cash. |
Net Worth | A measure of financial wealth of all possessions. |
Statement Of Financial Position | A statement of a family's financial condition. |
Tangible Asset | Personal property that was purchased. |
Wealth | A measure of how much someone owns. |