WGU D023 SCHOOL FINANCIAL
LEADERSHIP PRE-ASSESSMENT PRACTICE
EXAMINATION 2026 QUESTIONS WITH
ANSWERS GRADED A+
◍ What ethical considerations must school administrators keep in mind
regarding fundraising?.
Answer: They must avoid conflicts of interest and ensure that fundraising
activities are appropriate.
◍ What is the purpose of professional development in a school budget?.
Answer: To enhance staff skills and improve student outcomes.
◍ Cash Flow.
Answer: the total amount of money being transferred into and out of a
business.
◍ Who can authorize property tax increases to provide funding to public
schools?.
Answer: Local government authorities.
◍ What is an example of a liability in school accounting?.
Answer: Employee salaries.
◍ Local Funding.
Answer: Bond levy funding for construction of a building
◍ What characteristic makes a public school eligible to use Title I funding for
school-wide programs?.
Answer: Having 40% of enrolled students or higher who qualify for free or
reduced lunch.
,◍ What is the purpose of evaluating program outcomes and alternatives in
school budgeting?.
Answer: To achieve the same goals effectively.
◍ Which audit describes a self-checking process that includes a continual
examination of a school's accounting system?.
Answer: Internal audit
◍ Title I.
Answer: Provides federal aid to schools for disadvantaged and low-income
children.
◍ Equalization Grants.
Answer: provide funding on a per-pupil basis but take into account the
wealth and funds available to a district through local means.
◍ What can school bonds be used for?.
Answer: Capital Outlay Projects: buildings, equipment, and construction
projects.
◍ What type of accounting prevents overspending?.
Answer: Encumbrance accounting.
◍ How would the $3,000 raised from the book fair be categorized on the
balance sheet for both months?.
Answer: Assets
◍ What does the term 'magnet programming' refer to in the context of school
budgeting?.
Answer: Specialized educational programs designed to attract students from
various areas.
◍ What is the purpose of projecting student enrollment in a school budget?.
Answer: To estimate future funding and resource allocation.
◍ What does Title IV funding typically support?.
Answer: Programs that enhance educational opportunities and improve
student outcomes.
, ◍ Which student fundraising activity represents a breach of ethics for a school
administrator?.
Answer: Selling candy bars to buy new math textbooks.
◍ What piece of legislation establishes the Title I program for school
funding?.
Answer: Elementary and Secondary Education Act (ESEA)
◍ What is the primary goal of zero-based budgeting in schools?.
Answer: To ensure that all expenses are necessary and justified from scratch
each budgeting period.
◍ Fixed Dollar Grants.
Answer: Most often focused on achieving a certain program objective
instead of costs incurred.
◍ Unrestricted Funds.
Answer: Can be spend for any expenditure category without consideration
of category or source.
◍ What is the consequence of focusing only on short-term objectives in
budgeting?.
Answer: It may hinder the anticipation of long-term changes.
◍ Which accounting system is best for assessing the viability of an academic
program?.
Answer: Cost accounting.
◍ Gaming Revenue.
Answer: Funding that comes from lotteries and casinos.
◍ What defines a liability in accounting?.
Answer: Money owed to others.
◍ What is the purpose of a requisition in school accounting?.
Answer: To request the purchase of goods or services.
◍ TQP.
LEADERSHIP PRE-ASSESSMENT PRACTICE
EXAMINATION 2026 QUESTIONS WITH
ANSWERS GRADED A+
◍ What ethical considerations must school administrators keep in mind
regarding fundraising?.
Answer: They must avoid conflicts of interest and ensure that fundraising
activities are appropriate.
◍ What is the purpose of professional development in a school budget?.
Answer: To enhance staff skills and improve student outcomes.
◍ Cash Flow.
Answer: the total amount of money being transferred into and out of a
business.
◍ Who can authorize property tax increases to provide funding to public
schools?.
Answer: Local government authorities.
◍ What is an example of a liability in school accounting?.
Answer: Employee salaries.
◍ Local Funding.
Answer: Bond levy funding for construction of a building
◍ What characteristic makes a public school eligible to use Title I funding for
school-wide programs?.
Answer: Having 40% of enrolled students or higher who qualify for free or
reduced lunch.
,◍ What is the purpose of evaluating program outcomes and alternatives in
school budgeting?.
Answer: To achieve the same goals effectively.
◍ Which audit describes a self-checking process that includes a continual
examination of a school's accounting system?.
Answer: Internal audit
◍ Title I.
Answer: Provides federal aid to schools for disadvantaged and low-income
children.
◍ Equalization Grants.
Answer: provide funding on a per-pupil basis but take into account the
wealth and funds available to a district through local means.
◍ What can school bonds be used for?.
Answer: Capital Outlay Projects: buildings, equipment, and construction
projects.
◍ What type of accounting prevents overspending?.
Answer: Encumbrance accounting.
◍ How would the $3,000 raised from the book fair be categorized on the
balance sheet for both months?.
Answer: Assets
◍ What does the term 'magnet programming' refer to in the context of school
budgeting?.
Answer: Specialized educational programs designed to attract students from
various areas.
◍ What is the purpose of projecting student enrollment in a school budget?.
Answer: To estimate future funding and resource allocation.
◍ What does Title IV funding typically support?.
Answer: Programs that enhance educational opportunities and improve
student outcomes.
, ◍ Which student fundraising activity represents a breach of ethics for a school
administrator?.
Answer: Selling candy bars to buy new math textbooks.
◍ What piece of legislation establishes the Title I program for school
funding?.
Answer: Elementary and Secondary Education Act (ESEA)
◍ What is the primary goal of zero-based budgeting in schools?.
Answer: To ensure that all expenses are necessary and justified from scratch
each budgeting period.
◍ Fixed Dollar Grants.
Answer: Most often focused on achieving a certain program objective
instead of costs incurred.
◍ Unrestricted Funds.
Answer: Can be spend for any expenditure category without consideration
of category or source.
◍ What is the consequence of focusing only on short-term objectives in
budgeting?.
Answer: It may hinder the anticipation of long-term changes.
◍ Which accounting system is best for assessing the viability of an academic
program?.
Answer: Cost accounting.
◍ Gaming Revenue.
Answer: Funding that comes from lotteries and casinos.
◍ What defines a liability in accounting?.
Answer: Money owed to others.
◍ What is the purpose of a requisition in school accounting?.
Answer: To request the purchase of goods or services.
◍ TQP.
