6
QuizMultiple Choice

Personal Finance — Test

Question 6 • Personal Finance and Economics

Lenora is a college student with a student loan of $7,500. Her tuition is $3,200 per year. She owns $470 worth of text books and a has a laptop computer worth $950. She also has a meal plan at school for which she pays $250 per month. Which is one of Lenora’s assets?

Answer
A
the meal plan
B
the student loan
C
the tuition
D
the text books

Explanation

An asset is something Lenora owns that has value. Her textbooks are worth $470, so they are an asset. The student loan is a debt, while tuition and the meal plan are costs rather than things she owns.

AI-written and checked against the verified answer.

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