8
QuizMultiple Choice

Understanding Net Worth

Question 8 • General Financial Literacy - Brinkerhoff - 2000 - 2026/27

Mr. Morgan earns $38,000 a year as a salesperson and a 5% commission on all his sales. He has a mortgage of $910 a month and pays $175 a month for utilities. Mr. Morgan owns a rental property for which he receives $680 per month.Which is a liability?

Answer
A
the yearly salary
B
the commission
C
the mortgage
D
the rental property
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Mr. Morgan earns $38,000 a year as a salesperson…