what is the individuals total net worth if he has current assets if $700,000; retirement assets if $400,000; total assets of $2,000,000; current liabilities if $75,000; and total liabilities of $1,200,000?

1. $325,000

2. $400,000

3. $625,000

4. $800,000

which statement describes how to derive the beginning cash in a cash budget for the current year?

1. it is derived by averaging the cash balance from at least the last three years

2. it is derived from the cash from financing activiites section of the statement if cash flows for the current year

3. it is derived from the cash balance in the firms balance sheet at the end of the prior year

4. it is derived from the cash balance on the firms balance sheet at the end of the current year