explain how you apply accounting in your personal life in reference to the following: 1. Give 3 examples of what you would consider to be assets. 2. Give 2 examples of what you would consider to be liabilities. 3. Assign values (they don't need to be actual values) to each of the above and show how you would determine your net worth. 4. What statement would you report all of the above accounts and amounts on? 5. Explain what would cause your net worth to change over the next month?
explain how you apply accounting in your personal life in reference to the following: 1. Give 3 examples of what you would consider to be assets. 2. Give 2 examples of what you would consider to be liabilities. 3. Assign values (they don't need to be actual values) to each of the above and show how you would determine your net worth. 4. What statement would you report all of the above accounts and amounts on? 5. Explain what would cause your net worth to change over the next month?
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter1: Understanding The Financial Planning Process
Section: Chapter Questions
Problem 1FPE
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explain how you apply accounting in your personal life in reference to the following:
1. Give 3 examples of what you would consider to be assets.
2. Give 2 examples of what you would consider to be liabilities.
3. Assign values (they don't need to be actual values) to each of the above and show how you would determine your net worth.
4. What statement would you report all of the above accounts and amounts on?
5. Explain what would cause your net worth to change over the next month?
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