(1 point)
Responses
Laura has an $18,000 asset and a $5,500 liability.
Laura has an $18,000 asset and a $5,500 liability.
Laura has a $15,500 asset and an $18,000 liability.
Laura has a $15,500 asset and an $18,000 liability.
Laura's car is considered a liability only because she still owes money on it.
Laura's car is considered a liability only because she still owes money on it.
Laura's car is considered an asset only because it is worth more than she owes.
1 answer
The statement that best describes how this situation affects Laura's net worth is:
Laura has an $18,000 asset and a $5,500 liability.
In this case, Laura's car is considered an asset worth $18,000, and she has a liability of $5,500, which is the amount she owes on the car. To calculate her net worth related to the car, you would subtract the liability from the asset, resulting in a net worth benefit of $12,500 from the car ($18,000 - $5,500 = $12,500).
