The accumulated value of all assets, including home equity, the value of savings and checking accounts, retirement accounts, stocks and mutual funds, rental property, businesses, and vehicles, is known as wealth.

1) True
2) False

The statement is true; wealth is the sum of the value of all assets minus liabilities, encompassing money in bank accounts, investments, real estate, and personal property.

Explanation:

The statement that the accumulated value of all assets, including home equity, the value of savings and checking accounts, retirement accounts, stocks and mutual funds, rental property, businesses, and vehicles, is known as wealth is indeed true.

Wealth is typically measured by calculating a person's or household's net worth, which is the sum of all their assets minus any liabilities they may have. Assets can encompass various forms of value, ranging from liquid assets such as money in bank accounts to investment accounts, real estate, and personal property like vehicles. Liabilities, on the other hand, include any debts or obligations, such as loans and mortgages. Understanding wealth is fundamental in assessing economic health and inequality.

The accumulated value of all assets, including home equity, the value of savings and checking accounts, retirement accounts, stocks and mutual funds, rental property, businesses, and vehicles, is known as wealth. 1) True 2) False

Answer :

Final answer:

Explanation:

Other Questions

The accumulated value of all assets, including home equity, the value of savings and checking accounts, retirement accounts, stocks and mutual funds, rental property, businesses, and vehicles, is known as wealth.

1) True
2) False