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Questions and StoriesCategory: QuestionsCan One’s Financial Net Worth Be Truly Assessed?
14 Answers
Edward Duffy answered 4 months ago

I am not sure if it can be truly assessed. There are many factors to value someone’s net worth. Is a persons intellect part of a person’s net worth?

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David Matlala answered 3 months ago

Financial net worth of a person or corporation is the value of their assets minus their liabilities. From this definition, what’s put on the table can be fully assessed – which is what normally the case is – but what’s well hidden will remain unknown.

Vicaris replied 3 months ago

Spot on

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Eli Davis Keinamura answered 3 months ago

It’s very difficult to access ones wealth.since most income  and payment comes from outside banks consider women who sell  sex for money

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Ahmad Khasan answered 3 months ago

Yes, it can. But as you said, the self reported financial worth might not accurate in showing one’s true financial worth. However, if the authoritative body need to know one’s financial worth, they have every means to get it. And they can thoroughly identify every asset that belong to a particular person.

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Leno Jean Pierre answered 3 months ago

Yes it can be assessed if it’s known but what is hidded can not be assessed.

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Edward Duffy answered 3 months ago

Looking at the question again, yes financial net worth can be assessed. The thing that would be difficult to assess would be potential or future earning capacity

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Jackson Mugarura answered 3 months ago

I don’t think this is 100% possible, because of changes in currency and stock markets. It’s possible that, a person can lose many billions in just a single day because of changes in currency and stock markets!

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Jackson Mugarura answered 3 months ago

Again this position change from time to time, one can make an assessment today but within a single day, this position can go up or down!
So I’d say that, t’s not easy to make a realistic assessment.

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Kenneth Ogbonnaya answered 3 months ago

Absolutely no. Very hard. Even a poor man net worth is difficult to be truly assessed.

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Gareth White answered 3 months ago

The old fashioned method of finding your net worth is was by subtracting all liabilities from assets. An asset being anything you own that has monetary value and liabilities are things such as loans and mortgages. Obviously this doesnt include intellect/ knowledge and future earning capacity but that also isnt realised because its not actual if you die tomorrow.

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Nnaemeka Victor answered 3 months ago

Wonderful responses so far. The financial net worth can be truly assessed if only the individual is declare his assets and liabilities.

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Kenneth Ogbonnaya answered 3 months ago

I will answer this question from the definition of net worth. NET WORTH :this is the total asset a person or cooperate company owns minus their liabilities. So from the definition, assessment of a person or persons net worth is hard.

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Kenneth Ogbonnaya answered 4 weeks ago

No, it can not be easily assess

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Kenneth Ogbonnaya answered 3 weeks ago

Yes, it can be assessed

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