John's house is worth 180,000 and he owes $142,500 on it. Which statement best describes how this affects his net worth?
A. Jon's house is considered a liability only because he still owes money on it.
B. Jon has an $180,000 asset and a $142,500 liability.
C. Jon has a $142,500 asset and an $180,000 liability.
D. Jon's house is considered an asset only because it is worth more than he owes.
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