Final answer:
The total current assets amount to $16,000 and include only the checking and savings account balances, as current assets are considered to be liquid assets that can be promptly converted to cash.
Step-by-step explanation:
The total current assets of a family as given in the question are $16,000. This is calculated by adding the checking account balance of $3,000 and the savings account balance of $13,000. Current assets typically include liquid assets such as cash and savings accounts but exclude long-term investments like retirement accounts, fixed assets like real estate and cars, and other personal items.
It is important to distinguish between liquid assets that can be readily converted to cash and those that cannot. While the home, car, and retirement account represent significant value, they are not considered current assets in this context. Furthermore, liabilities such as credit card balances, loans, or utility bills do not reduce the total current assets as they are obligations to be paid, not asset balances.