I believe the answer is: c. Sam’s assets increased by more than his liabilities.
You are watching: Over the period of a year, sam’s net worth increased. which of the following could be true?
A net worth represent the amount of financial value that a person have after removing all of his/her debt out of the equation.
A net worth is calculated by counting total assets - Total liabilities.
For a net worth to be increased, the only way possible is to increase the assets more than the liabilities.
im not fully sure of it but i would assume B because the net worth increase so shouldn"t the assets and liabilities increase as well
Sam"s assets increased by more than his liabilities ( C )
Sam"s net worth increased because his assets increased more than his liabilities because the more assets you have the more your net worth and also the less liabilities you have the more your net worth as well. alternatively if your assets and liabilities are growing at the same rate your net worth won"t change.
An asset is any property or product weather tangible or not been owned by anybody or entity that produces a positive economy value is an asset. generally assets appreciate with time. example of an Asset is owning a block of flats ( real estate )
A liability is any property or product that produces or incurs a negative economy value to a person or corporation example of a liability is owning a luxury car or a Jet
Answer from: zoey1223
The correct answer is c. Sam’s assets increased by more than his liabilities.
Taking into account the basic accounting equation (Assets - liabilities = equity), a greater variation on the side of the assets will always mean an increase in equity as long as the liabilities have a contrary behavior.
The theory of charge and credit refers to the effect that commercial transactions have on the equity equation. Each transaction affects the balance, changes the values in the equity without altering the balance of the opposition.
The theory of charge and credit is the set of rules that, based on the laws of equity, allow the registration of capital and other accounting facts through a system of accounts. In each of these transactions, at least two accounts act.
Answer from: blue5488
C. sams assests increased by more than his liabilities.
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Over the period of a year, sam"s net worth increased. which of the following could be true? a...
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