What Are the Repayment Terms When a Part-Time Students Takes

question 92

Multiple Choice

What are the repayment terms when a part-time students takes a student loan?

• A)They must pay principal and interest while studying.
• B)They must pay interest only while studying.
• C)They must principal and interest as soon as studies are completed.
• D)They must pay principal and interest as soon as soon as full time work is secured.

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Definitions:

Ordinary Loss

A loss incurred in the regular operation of a business or the sale of assets used in the business that can be fully deducted in the year it occurs.

Capital Loss

The loss incurred when a capital asset is sold for less than its purchase price.

Depreciation

The process of allocating the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Capital Asset

An asset of any kind owned for investment or personal purposes, not usually sold in the course of business.