Mr. Chavez has assets of $250,000 and liabilities of $18,000. He decides to finance the entire amount of the purchase of a car valued at $26,000. Which of the following is true?
a.
Mr. Chavez increased his assets.
b.
Mr. Chavez increased his net worth.
c.
Mr. Chavez increased both his assets and net worth.
d.
Mr. Chavez did not increase his assets or his net worth.
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