using the information from Corey’s net worth statements and budget in the activi
ID: 1134882 • Letter: U
Question
using the information from Corey’s net worth statements and budget in the activity,answer the following question.What could Corey change in his budget to increase his net worth? using the information from Corey’s net worth statements and budget in the activity,answer the following question.What could Corey change in his budget to increase his net worth? using the information from Corey’s net worth statements and budget in the activity,answer the following question.What could Corey change in his budget to increase his net worth?Explanation / Answer
A.Fixed assets=$2000
B.Current liabilities=$400
C.Net worth=$300
D.Corey's long term liabilities is equal to its fixed assets. Corey should reduce the long term liabilities in order to increase the net worth .
Total income is $750 (only his employment income can be considered as his total income).
Corey can reduce his variable expenses from his budget to increase his net worth.He has to reduce spending on the following items-entertainment,clothing and charitable giving.
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