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1. A formal report that shows what an individual owns, what an individual owes, and the difference between the two.​

User Kamika
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Answer:

A net worth statement

Step-by-step explanation:

A net worth statement is a financial report/ document that shows the assets and liabilities - both short and long-term - of an individual or company. The net worth is the result of deducting liabilities from assets.

The net worth statement paints a picture of a person or an entity's current financial position. Assets represent what a person owns, while liabilities are what they owe.

User Alexej Kubarev
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