2
QuizMultiple Choice

Relating Income and Careers — Test

Question 2 • Personal Finance

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

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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