Page 1 of 66
WGU D363 Personal Finance OA & PA
EXAM ALL Questions and Verified
Solutions Latest Update This Year
WGU D363 Personal Finance OA
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?
Income and expense statement
Cash-flow statement
Cash equivalent statement
Balance sheet
Balance sheet
1
, Page 2 of 66
Provides a quick view of one's assets, liabilities, and net worth.
Income and expense statement
Cash-flow statement
Cash equivalent statement
Balance sheet
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?
Fixed
Variable
Recurring
Surplus
2
, Page 3 of 66
Variable
Expenses which an individual has control. This is where one can look to save money each
month.
Fixed
Variable
Recurring
Surplus
Variable
Sophia is creating a personal budget. She starts by listing her monthly income and expenses.
Which financial statement did Sophia create?
Cash-flow statement
Net worth
Financial ratio
3
, Page 4 of 66
Balance sheet
Cash-flow statement
A summary of income and expenses for a given period of time.
Cash-flow statement
Net worth
Financial ratio
Balance sheet
Cash-flow statement
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
4
WGU D363 Personal Finance OA & PA
EXAM ALL Questions and Verified
Solutions Latest Update This Year
WGU D363 Personal Finance OA
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?
Income and expense statement
Cash-flow statement
Cash equivalent statement
Balance sheet
Balance sheet
1
, Page 2 of 66
Provides a quick view of one's assets, liabilities, and net worth.
Income and expense statement
Cash-flow statement
Cash equivalent statement
Balance sheet
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?
Fixed
Variable
Recurring
Surplus
2
, Page 3 of 66
Variable
Expenses which an individual has control. This is where one can look to save money each
month.
Fixed
Variable
Recurring
Surplus
Variable
Sophia is creating a personal budget. She starts by listing her monthly income and expenses.
Which financial statement did Sophia create?
Cash-flow statement
Net worth
Financial ratio
3
, Page 4 of 66
Balance sheet
Cash-flow statement
A summary of income and expenses for a given period of time.
Cash-flow statement
Net worth
Financial ratio
Balance sheet
Cash-flow statement
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
4
