Liabilities: Liabilities are debts or obligations that individuals, businesses, or governments owe. They represent claims against assets.
Net Worth: Net worth is calculated by subtracting liabilities from assets. It represents the value of an individual's or entity's total assets minus its total liabilities.
Liquid Assets: Liquid assets are those that can be quickly converted into cash without significant loss of value. Examples include cash, savings accounts, and certain investments like stocks.