Financial Accounting, Class - I Net-Worth, defined as The Total assets minus total liabilities of an individual entity. Assets, defined as any tangible or intangible economic resource. Liability, defines as any present and/or future sacrifice of economic benefit. ..... Don't worry, I am not writing any Financial Accounting Essay or paper. I couldn't find a better way to open the topic. But anyways, this is how Net-Worth is defined in today's world. Practically, it is the organization's or person's ' Value ' at present. Needless to say, we give a lot of importance to Net-Worth of an entity. Importance given to entity is directly proportional to its Net-Worth. Talking more specifically (and sarcastically too), sometimes, this importance is directly proportional to the higher powers of Net-Worth. (Yes, you are correct, I am talking about squares and cubes). Wars of Net-Worth Rankings are very well enjoyed by spectators and competitors as well. Re...