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18. Define Liquid Assets: a. Real Estate, Cash, Cars b. Cash, Stocks, Certificate of Deposits (CDs) c. Mortgage, Expenses, Cars Sartorante 19. Define Balance Sheet:

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18. Define Liquid Assets: a. Real Estate, Cash, Cars b. Cash, Stocks, Certificate of Deposits (CDs) c. Mortgage, Expenses, Cars Sartorante 19. Define Balance Sheet: V an WORDS a. A financial statement that describes a person's financial position at a given point in time b. A financial statement that measures financial performance over time C. A detailed financial report that looks forward. 20. Define Budget: hood a. A financial statement that describes a person's financial position at a given point in time b. A financial statement that measures financial performance over time C. A detailed financial report that looks forward. 21. Difference between assets and liabilities: a. Assets you own whereas Liabilities you owe b. Liabilities you own whereas Assets you owe C. Investments

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