WGU D363 SECTION 1 ASSESMENT TEST WITH CORRECT
ANSWERS
1. Sophia is creating a personal budget. She
A) Cash-flow statement
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
2. Malik is reviewing a list of assets and liabilities. He uses D) Balance
sheet
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
3. Diego is reviewing his personal budget to see where he B)
Variable
can control his spending so he can save more
money each month.
,WGU D363 SECTION 1 ASSESMENT TEST WITH CORRECT
ANSWERS
Which type of expenses would Diego be reviewing?
A) Fixed
B) Variable
, WGU D363 SECTION 1 ASSESMENT TEST WITH CORRECT
ANSWERS
C)Recurring
D) Surplus
4. Mei receives $5,000 per month in after-tax C) Cash-flow statement
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
5. Fatima noticed that she consistently has $300 left over A) A money
market pays a
each month, so she wants to start saving account?
money. She researches the different types of
accounts she could open. Fatima decides to A) A money
open a money market ac-count. market
pays a
higher
Why would Fatima choose to open a money
interest
market account over a traditional savings rate.
ANSWERS
1. Sophia is creating a personal budget. She
A) Cash-flow statement
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
2. Malik is reviewing a list of assets and liabilities. He uses D) Balance
sheet
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
3. Diego is reviewing his personal budget to see where he B)
Variable
can control his spending so he can save more
money each month.
,WGU D363 SECTION 1 ASSESMENT TEST WITH CORRECT
ANSWERS
Which type of expenses would Diego be reviewing?
A) Fixed
B) Variable
, WGU D363 SECTION 1 ASSESMENT TEST WITH CORRECT
ANSWERS
C)Recurring
D) Surplus
4. Mei receives $5,000 per month in after-tax C) Cash-flow statement
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
5. Fatima noticed that she consistently has $300 left over A) A money
market pays a
each month, so she wants to start saving account?
money. She researches the different types of
accounts she could open. Fatima decides to A) A money
open a money market ac-count. market
pays a
higher
Why would Fatima choose to open a money
interest
market account over a traditional savings rate.
