Question

question 4 (multiple choice worth 1 points)
(calculating net worth lc)

the assets and liabilities of a veterinarian are listed below.

home value	$490,986
mortgage	$89,100
credit card balance	$6,691
owned work equipment	$98,820
car value	$44,186
investments	$34,417
office equipment loan	$214,744

what is the value of the veterinarians liquid assets?

( ) $34,417
( ) $44,186
( ) $78,603
( ) $98,820

Explanation:

Identify liquid assets

Using the Liquid Assets and Asset Classification knowledge points

• Investments: \(\$34,417\) (liquid asset)
• Home Value: \(\$490,986\) (non-liquid asset)
• Owned Work Equipment: \(\$98,820\) (non-liquid asset)
• Car Value: \(\$44,186\) (non-liquid asset)

Calculate total liquid assets

Using the Liquid Assets knowledge point

$$ \text{Total Liquid Assets} = \$34,417 $$

Answer:

• (A) $34,417 (Correct answer)
• (B) $44,186
• (C) $78,603
• (D) $98,820