Brenda created this personal balance sheet. Brenda’s Balance Sheet Assets Liabilities jewelry food wages health insurance commission rent bank account tips Total Total Brenda says her assets are definitely greater than her liabilities. Which explains whether Brenda is correct?

Brenda cannot know that her assets are greater just by looking at the listed items; she would need to compare their total values. Assets are things she owns, such as jewelry and money in a bank account, while liabilities are amounts she owes. The value of her assets could be less than the total she owes, so Brenda is not necessarily correct.

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