Exam (elaborations)
WGU D023- PRACTICE TEST QUESTIONS AND ANSWERS 2024
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WGU D023- PRACTICE TEST QUESTIONS AND ANSWERS 2024
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WGU D023- PRACTICE TESTA school's booster club raised funds through a bake sale for the annual end-of-
the-year banquet. The funds were collected and submitted in January, but they
will not be spent until May, when the banquet is planned. How will the booster
club funds be categorized on a balance sheet in January? - ANSWERS-Assets
InstructionSupport ServicesAdministration/
Governance Capital Outlay
1000
2000
3000
4000
Which function code would be used to spend funds on hiring a new first-grade
teacher? - ANSWERS-1000
Mrs. Smith, an English teacher, would like to purchase a "smart" TV to use as her
display for presentation software. What should you the principal tell her to do
first? - ANSWERS-Complete a purchase requisition with all required information.
The robotics team raised $500 to compete in the STEM competition in May. The
funds were collected and submitted in March, but will not be spent until May
when the competition arises. How will the funds be categorized on the balance
sheet for March? - ANSWERS-Assets
, An elementary school had a book fair and raised $3,000 for instructional supplies.
How would the raised funds be categorized on the balance sheet for both
months? - ANSWERS-Assets
Which key budgeting piece must be prepared by a district at the end of a fiscal
year budget? - ANSWERS-Comprehensive annual financial report
Use the excerpt from a school balance sheet to answer the following question:
-Instruction 100
-Support Services 200
-Governance/Admin
300
-Professional Development 400
A school administrator pays an independent contractor to train faculty in
strategies for student engagement. Which function/object codes would be used
to account for the expenditure? - ANSWERS-Purchased Services
(3000)/Professional Development (400)
What is the principal's responsibility regarding school financial auditing and
reporting? - ANSWERS-To have a formal audit of the finances completed by a
certified public accountant
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