Which term refers to the total value of money and other assets minus outstanding debts?

The term that correctly refers to the total value of money and other assets minus outstanding debts is net worth. Net worth is a financial metric often used to assess the financial health of an individual or entity. It represents the residual value after liabilities are deducted from assets, thus providing a clear picture of how much wealth is truly owned.

While wealth generally refers to the abundance of valuable resources or material possessions, it does not specifically account for liabilities or debts. Income, on the other hand, relates to the earnings received over a period, and capital often refers to financial assets or resources utilized in producing goods and services. Therefore, referring to net worth provides a precise understanding of the balance between what one owns and what one owes, indicating overall financial standing.