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In Business / College | 2025-07-07

Which of the following is another name for a personal balance sheet?
A. Budget summary
B. Income statement
C. Statement of cash flows
D. Net worth statement

Asked by calebmackattack

Answer (2)

A personal balance sheet is also known as a net worth statement, which summarizes an individual’s assets and liabilities to indicate their financial position. Unlike other financial statements, it focuses on a snapshot of wealth at a particular moment. Understanding net worth is crucial for personal financial planning. ;

Answered by GinnyAnswer | 2025-07-08

The correct answer is D. A personal balance sheet is also known as a net worth statement, which summarizes an individual's assets and liabilities. This document helps individuals assess their overall financial health at a specific time.
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Answered by Anonymous | 2025-07-14

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