Financial Data Flashcards
1
Q
Assets
A
Cash, property, investments, goodwill, and other items of value (as defined by state law) that
appear on a balance sheet indicating the net worth of an individual or a business
2
Q
Asset Inventory
A
Asset Inventory
3
Q
Debt
A
Services, money, or goods owed by one party to another.
4
Q
Financial Affidavit
A
Key document used to collect financial data; in some states, it may be known as a “Financial
Statement” and may use a standard form. This document becomes part of the record of
documents that are led with the court. Included in the Financial Affidavit are all income and
deductions from income, all living expenses, all assets, and all liabilities.
