I got caught by the wording of Extents can be owned by only one object as well.

Maybe a language issue, but I interpreted it as the complementary answer to Extents can be owned by multiple objects.

With regards to Text data is stored on data pages, this is debatable. It depends on the options you have set up for your table (table option "text in row", http://msdn.microsoft.com/en-us/library/ms173530.aspx) and on the size of the data you are trying to store.

But I would not have included the Text data part at all in the QOTD, since this is deprecated and ancient 😛