Exciting Financial Transaction

What did Holden do to raise some extra cash?

He sells his ice skates to another student for fifty dollars.

Answer:

The transaction where Holden sells his ice skates to another student for fifty dollars is best described as an exchange, not a loan, a purchase, or a giveaway. Therefore, the correct answer is Option A.

Holden decided to sell his ice skates to another student for fifty dollars in order to raise some extra cash. This transaction involves him giving up ownership of his ice skates in exchange for money.

When Holden sells his ice skates, he is participating in a typical financial transaction where goods are exchanged for money. In this case, the ice skates are the goods being exchanged for fifty dollars. This kind of exchange is a common way for individuals to make some extra money when in need.

Selling items like ice skates, clothing, or electronics to others for cash is a simple and effective way to generate extra income. It allows individuals to declutter their belongings while also earning money in the process. In Holden's case, selling his ice skates was a smart move to boost his finances.

Overall, this financial transaction showcases Holden's resourcefulness and willingness to take initiative to improve his financial situation. By selling his ice skates, he was able to quickly raise some extra cash, which can be useful for various expenses or savings goals.