Respuesta :

StickGod101

Answer:

Mark brainliest

Step-by-step explanation:

Liability: A liability is an obligation arising from a past business event. It is reported on a company's balance sheet. Liabilities are also part of the basic accounting equation: Assets = Liabilities + Stockholders' Equity. Liabilities are often viewed as claims against the company's assets.

Example: A student loan which someone has to pay off over time.

Asset: Asset. Something you own that has value. Specially if it helps you make money, but it doesn't have to. Examples: personal property, real estate, stocks/shares, bank accounts.

Example: Shares of a stock which can help someone gain profit.

Net Worth: Net worth is the value of all the non-financial and financial assets owned by an institutional unit or sector minus the value of all its outstanding liabilities.

Example: Someone has $100,000 but has a $30,000 student loan, so the net worth of they have is $70,00 because it is total assets - total liabilities = net worth.

Answer:

A liability is defined as the future economic gains sacrificed by an entity to other entities as a result of previous transactions or other past occurrences.

example: Bank debt, Mortgage debt

Any resource that a business or economic organization owns or controls is referred to as an asset. It refers to everything that has the potential to provide positive economic value. Assets are ownership values that can be turned into currency.

example: Cash and cash equivalents, Accounts Receivable.

An individual's or institution's net worth is equal to the sum of all non-financial and financial assets minus the sum of all outstanding obligations.

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