16
QuizMultiple Choice

Relating Income and Careers — Test

Question 16 • Personal Finance

Amala listed her assets and liabilities. Credit Card Balance Car (Paid in full) Jewelry Student Loan Savings Account Stocks $850 $2,200 $125 $2,500 $1,200 $1,500 What is the total of Amala’s liabilities?

Answer
A
$850
B
$2,500
C
$3,350
D
$5,550

Explanation

Liabilities are amounts Amala still owes. She owes $850 on her credit card and $2,500 on her student loan, so her total liabilities are $850 + $2,500 = $3,350. The car is paid in full, so it is not a liability.

AI-written and checked against the verified answer.

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