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VOC lessons 4 and 5 Flashcards | StudBud
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VOC lessons 4 and 5
What is Financial Literacy
What is Negative Net Worth
VOC lessons 4 and 5
9 terms
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1
What is Negative Net Worth
Your libilities are more than your assest
woah what is that????
2
What is Financial Literacy
How to read money
ability to understand and effectively use various financial skills
3
What is an Asset
resources owned or controlled by a business or an economic entity
You being owed to the company
4
What is Net Income
What you earn annually
business or individual makes after taxes and other expenses are taken out
5
What is Financial Plan
a thorough examination of your income and spending
you have 0 idea what you're doing
6
What is Net Worth
honk mimimi something about money
Financial assets
your worth to your family
7
What is a Expense
the cost required for something; the money spent on something
What the cost of your actions are
8
What is Positive Net Worth
😃
a positive thing
assets are more than your liabilities
9
What does Liability mean
a sum of money that one party or entity owes to another
You dont owe anyone
the state of being responsible for something, especially by law
