Question

youve been working for a while now, and you want to be smart about saving money for the future. your brother tells you that you can measure your progress by calculating your net worth. you research about net worth and find the following formula: net worth = assets - liabilities you currently have a checking account, a used car, and a laptop. you also owe $275 on a loan that you took out to buy your cell phone. which of these is a liability? cell phone loan your checking account cost of your laptop value of your car

Explanation:

A liability is an obligation or debt owed. A cell - phone loan is a debt that needs to be repaid, while a checking account, cost/value of laptop, and value of car are assets.

Answer:

A. Cell phone loan