Question

Which table correctly lists the assets and liabilities?

A 2-column table with 4 rows. Column 1 is labeled Assets with entries leased car, mortgaged home, credit card debt, tax bill. Column 2 is labeled Liabilities with entries car, home, savings bond, stocks.
A 2-column table with 4 rows. Column 1 is labeled Assets with entries car, home, credit card debt, tax bill. Column 2 is labeled Liabilities with entries leased car, mortgaged home, savings bond, stocks.
A 2-column table with 4 rows. Column 1 is labeled Assets with entries leased car, mortgaged home, savings bond, stocks. Column 2 is labeled Liabilities with entries car, home, credit card debt, tax bill.
A 2-column table with 4 rows. Column 1 is labeled Assets with entries car, home, savings bond, stocks. Column 2 is labeled Liabilities with entries leased car, mortgaged home, credit card debt, tax bill.

Answer 1

The answer is D.

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Step-by-step explanation:

Answer 2

A 2-column table with 4 rows. Column 1 is labeled Assets with entries car, home, savings bond, stocks. Column 2 is labeled Liabilities with entries leased car, mortgaged home, credit card debt, tax bill.

Step-by-step explanation:

An asset is a valuable item that a person or a corporation owns. An asset has an economic or monetary value attached to it. It is a resource used in generating future benefits, save costs, or produce goods and services. From the list provided, a car, home, savings bond, stocks represent assets.

Liabilities are things or money owed. They are debts or obligations to be met. A mortgage is a debt; hence it is a liability. A leased car belongs to someone else and presents an obligation to pay, making it a liability. The tax bill is a debt.