PF 2.03 Word Scramble
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Term | Definition |
Asset | Items of monetary value a person or household owns |
Expense | Money spent |
Income | Money received |
Investment asset | Financial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the future |
Liability | A debt or obligation owed to others |
Market Value | The amount you could realistically sell an asset for today |
Monetary Asset | Assets that can be quickly and easily converted into cash |
Net Worth | A measure of financial wealth and indicates the monetary value of all possessions hat a person or household owns, minus amounts owed to others |
Statement of Financial Position | A financial statement that describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worth |
Tangible Asset | Personal property that was purchased to create a lifestyle or improve your life |
Wealth | A measurement of how much a person or household owns once all debts have been paid |
Created by:
brcampbell
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