WGU D363 SECTION 1 LESSON 2 ASSESMENT EXAM 2025
WITH 100% ACCURATE SOLUTIONS
Nora's car broke down, and the unexpected out-of-pocket cost to fix it
was $1,000. Nora's expenses now exceed her income for this month.
What will Nora's cash-flow statement for this month show?
A) A variable loss
B) A surplus
C) A net gain
D) A deficit - Precise Answer ✔✔D) A deficit
Lulu wants to create a budget, but she does not know where to start.
What should a financial planner advise Lulu?
A) Record all expenses for 30 days to see how income is currently being
spent
B) Use only a debit card for 30 days to easily track where money is
being spent
C) Create budget categories and estimate monthly expenses and income
D) Document a reason for each expense, whether paid by check, cash, or
card - Precise Answer ✔✔A) Record all expenses for 30 days to see
how income is currently being spent
How should credit card charges be handled within a personal budget?
A) Credit card charges should be recorded at the time of the transaction.
, B) Record credit card transactions once the monthly statement is
received.
C) Credit card charges are not recorded in a personal budget but instead
in their own worksheet.
D) List credit card transactions in a separate section of the personal
budget for tracking purposes. - Precise Answer ✔✔A) Credit card
charges should be recorded at the time of the transaction.
Diego wants to know if he has enough income and savings to cover all
of his debt obligations.
How should Diego answer this question?
A) Calculate the debt payments-to-disposable-income ratio
B) Calculate the asset-to-debt ratio
C) Calculate the debt-to-income ratio
D) Calculate the liquidity ratio - Precise Answer ✔✔B) Calculate the
asset-to-debt ratio
Why do financial experts suggest that couples close redundant bank
accounts?
A) To improve their credit scores
B) To help pay off debt faster
C) To save money on banking and account fees
D) To facilitate the budgeting process - Precise Answer ✔✔C) To save
money on banking and account fees
WITH 100% ACCURATE SOLUTIONS
Nora's car broke down, and the unexpected out-of-pocket cost to fix it
was $1,000. Nora's expenses now exceed her income for this month.
What will Nora's cash-flow statement for this month show?
A) A variable loss
B) A surplus
C) A net gain
D) A deficit - Precise Answer ✔✔D) A deficit
Lulu wants to create a budget, but she does not know where to start.
What should a financial planner advise Lulu?
A) Record all expenses for 30 days to see how income is currently being
spent
B) Use only a debit card for 30 days to easily track where money is
being spent
C) Create budget categories and estimate monthly expenses and income
D) Document a reason for each expense, whether paid by check, cash, or
card - Precise Answer ✔✔A) Record all expenses for 30 days to see
how income is currently being spent
How should credit card charges be handled within a personal budget?
A) Credit card charges should be recorded at the time of the transaction.
, B) Record credit card transactions once the monthly statement is
received.
C) Credit card charges are not recorded in a personal budget but instead
in their own worksheet.
D) List credit card transactions in a separate section of the personal
budget for tracking purposes. - Precise Answer ✔✔A) Credit card
charges should be recorded at the time of the transaction.
Diego wants to know if he has enough income and savings to cover all
of his debt obligations.
How should Diego answer this question?
A) Calculate the debt payments-to-disposable-income ratio
B) Calculate the asset-to-debt ratio
C) Calculate the debt-to-income ratio
D) Calculate the liquidity ratio - Precise Answer ✔✔B) Calculate the
asset-to-debt ratio
Why do financial experts suggest that couples close redundant bank
accounts?
A) To improve their credit scores
B) To help pay off debt faster
C) To save money on banking and account fees
D) To facilitate the budgeting process - Precise Answer ✔✔C) To save
money on banking and account fees
