Debt
Authored by Tatyana Cruz
Life Skills
12th Grade
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is debt?
Money
Money for free
Money that is owned
Money for food
Answer explanation
The answer is Money that is owned
Something, typically money, that is owed or due.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements is True about Debt
Debt is the amount of money you have in your checking account
Debt is the ability to borrow money
Debt is the amount of money you have borrowed from a person or a business
Debt is the amount of money you have in a savings account.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False, When you owe someone money, you have a liability
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A home loan is?
Secured debt
Neither
Unsecured debt
Both
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Secured debt
Debt that has a liability attached to it.
Debt that will not change
Debt that has an asset attached to it.
Debt that you can trust.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit card debt is an example of
Secured debt
Neither
Unsecured debt
Both
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Student loan debt is an example of
Secured debt
Unsecured debt
Neither
Both
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