1|Page
WGU D363 SECTION 1 LESSON 2 ASSESMENT
TEST EXAM|| QUESTIONS AND 100% CORRECT
ANSWERS ALREADY GRADED A+|| LATEST AND
COMPLETE UPDATE WITH VERIFIED
SOLUTIONS GUARANTEED PASS!!!
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
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
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.
, 2|Page
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.
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
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
C) To save money on banking and account fees
WGU D363 SECTION 1 LESSON 2 ASSESMENT
TEST EXAM|| QUESTIONS AND 100% CORRECT
ANSWERS ALREADY GRADED A+|| LATEST AND
COMPLETE UPDATE WITH VERIFIED
SOLUTIONS GUARANTEED PASS!!!
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
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
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.
, 2|Page
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.
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
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
C) To save money on banking and account fees
