which of the following modifications to the list of assets and liabilities below would result in an increase…

which of the following modifications to the list of assets and liabilities below would result in an increase in net worth? cash of $300. car valued at $28,000. car loan of $22,000. motorcycle valued at $6,000. savings of $2,000. credit card balances of $4,000. student loan of $10,000. a. putting $100 in savings b. paying $100 on credit cards c. getting paid $100 d. all of the above please select the best answer from the choices provided

which of the following modifications to the list of assets and liabilities below would result in an increase in net worth? cash of $300. car valued at $28,000. car loan of $22,000. motorcycle valued at $6,000. savings of $2,000. credit card balances of $4,000. student loan of $10,000. a. putting $100 in savings b. paying $100 on credit cards c. getting paid $100 d. all of the above please select the best answer from the choices provided

Answer

Explanation:

Step1: Recall net - worth formula

Net worth = Total assets - Total liabilities.

Step2: Analyze option a

Putting $100 in savings increases assets. Assets go up by $100, liabilities stay the same. So net worth increases.

Step3: Analyze option b

Paying $100 on credit cards decreases liabilities. Liabilities go down by $100, assets stay the same. So net worth increases.

Step4: Analyze option c

Getting paid $100 increases cash (an asset). Assets go up by $100, liabilities stay the same. So net worth increases.

Answer:

D. all of the above