Question

what is a net worth statement?

- it is a listening of an individual's net income minus their expenses, calculated on a monthly basis
- it is a listening of what an individual owns mins what they owe
- it is a spending plan based on income and expenses

Answer 1

[AI-generated answer — Bot GPT 3.5]

- it is a financial document that provides an overview of an individual's or organization's financial position by detailing assets, liabilities, and equity at a specific point in time. This statement helps in determining an individual's or organization's overall financial health and can be used for budgeting, financial planning, and tracking financial progress.