net asset References net asset finance Ask Anything Homework Help Also known as: net worth Written by The Information Architects of Encyclopaedia Britannica The Information Architects maintain a master list of the topics included in the corpus of EncyclopĂŠdia Britannica, and create and manage the relationships between them. The Information Architects of Encyclopaedia Britannica Britannica AI Ask Anything Learn about this topic in these articles: taxation/ Direct taxesTaxes on net worth are levied on the total net worth of a personâthat is, the value of his assets minus his liabilities. As with the income tax, the personal circumstances of the taxpayer can be taken into consideration. Read MoreTaxes on net worth are levied on the total net worth of a personâthat is, the value of his assets minus his liabilities. As with the income tax, the personal circumstances of the taxpayer can be taken into consideration. Read Moreaccounting/ The balance sheetâŠis always equal to the net assets (assets minus liabilities). Any increase in one will inevitably be accompanied by an increase in the other, and the only way to increase the ownersâ equity is to increase the net assets. This is known as the fundamental accounting equation. Read MoreâŠis always equal to the net assets (assets minus liabilities). Any increase in one will inevitably be accompanied by an increase in the other, and the only way to increase the ownersâ equity is to increase the net assets. This is known as the fundamental accounting equation. Read More
