Final answer:
The Net Asset Value (NAV) is the market value of assets minus liabilities divided by shares outstanding.
Step-by-step explanation:
The Net Asset Value (NAV) is defined as the market value of assets minus liabilities divided by shares outstanding. This formula calculates the per-share value of a mutual fund or exchange-traded fund (ETF) based on the current market value of its holdings. By dividing the net asset value by the number of shares outstanding, we can determine the price per share.