Exam (elaborations)
WGU D363 SECTION 1 ASSESMENT EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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WGU D363 SECTION 1 ASSESMENT EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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WGU D363 SECTION 1 ASSESMENT EXAM 2024/2025 WITH 100%ACCURATE SOLUTIONS
Sophia is creating a personal budget. She starts by listing her monthly
income and expenses.
Which financial statement did Sophia create?
A) Cash-flow statement
B) Net worth
C) Financial ratio
D) Balance sheet - Precise Answer ✔✔A) Cash-flow statement
Malik is reviewing a list of assets and liabilities. He uses the information
shown in the table to evaluate his net worth.
Total Assets: $45,000
Total Liabilities: $22,000
Net Worth: $23,000
Which financial statement is Malik reviewing?
A) Income and expense statement
,B) Cash-flow statement
C) Cash equivalent statement
D) Balance sheet - Precise Answer ✔✔D) Balance sheet
Diego is reviewing his personal budget to see where he can control his
spending so he can save more money each month.
Which type of expenses would Diego be reviewing?
A) Fixed
B) Variable
C) Recurring
D) Surplus - Precise Answer ✔✔B) Variable
Mei receives $5,000 per month in after-tax pay. She is reviewing the
following information for the current month.
Category(Income)/Expense
Income: ($5,000)
Rent: $1,200
Electricity: $150
Automobile loan: $250
Groceries: $150
Internet: $60
, Mobile Phone: $80
Which type of financial statement is Mei reviewing?
A) Net worth statement
B) Cash equivalent statement
C) Cash-flow statement
D) Balance sheet - Precise Answer ✔✔C) Cash-flow statement
Fatima noticed that she consistently has $300 left over each month, so
she wants to start saving money. She researches the different types of
accounts she could open. Fatima decides to open a money market
account.
Why would Fatima choose to open a money market account over a
traditional savings account?
A) A money market pays a higher interest rate.
B) A traditional savings account requires a high minimum balance.
C) A money market is covered by the Federal Deposit Insurance
Corporation (FDIC).
D) Traditional savings account deposits are invested into financial
markets. - Precise Answer ✔✔A) A money market pays a higher interest
rate.
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