Ciement woud reduce a parsons taren 520 C $14 D. $50 E $35 A person's filing status is affected by marital status and dependents. True Faise 3. The value of items owned minus the amounts owed to others equalis net assets het worth total iabilities D. total income. E. budgeted expenses 4. Which of the following are considered to be personal financial statements? A. Budget and credit card statements B. Balance sheet and cash flow staterment C. Checkbook and budget D. Tax returns E. Bank statement and savings statement 5. A family with $45,000 in assets and $22,000 of liabilities would have a net worth of $45,000. B. $23,000 $22,000. D. $67,000. E. $41,000 6. Time value of money refers to changes in consumer spending when infiation occurs A. True B. False 7. A personal balance sheet presents: A amounts budgeted for spending B. income and expenses for a period of time. earnings on savings and investments D ltems owned and amounts owed. family financial goals