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Financial Position

TermDefinition
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.
Created by: 754373
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