Question

In order to reduce their debt, the Johnsons sold some real estate property valued at $165,000 for $143,000. They paid off a loan balance of $100,000 and put the rest in savings. Which of the following is a true statement? a. The Johnsons increased their liabilities. b. The Johnsons increased their liquid assets. c. The Johnsons increased their net worth. d. The Johnsons increased their use asset