Given $45,000 worth of total assets and a net worth of $25,000, what is the total balance of liabilities?(1 point)

Question

Responses

$70,000
$70,000
$20,000
$20,000
−$20,000
negative 20,000 dollars
$15,000

Answer 1

To find the total balance of liabilities, subtract the net worth from the total assets.

$45,000 - $25,000 = $20,000

Therefore, the correct answer is $20,000.