Which of the following statements is false?

Select one:

a$.$ The personal balance sheet is a document used to record what you own $($assets$),$ what you owe $($liabilities$)$ and what you are worth $($net worth$)$ on a specific date.

b$.$ An asset is something you own that benefits you now and in the future.

c$.$ Liabilities are obligations, and are sometimes referred to as debt.

d$.$ Net worth is equal to assets plus liabilities.