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Part A How would you summarize generating wealth using Assets, liabilities, cash flow? Part B How may your income and expenses play into obtaining net

Part A

How would you summarize generating wealth using Assets, liabilities, cash flow?

Part B

How may your income and expenses play into obtaining net wealth (positive and negative) and how may budgeting help with obtaining a positive net worth?

Part C

Does having a higher/increased income, or separately/jointly more assets equate to a positive net wealth? Why or Why not?

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