Exam (elaborations)
NATIONAL FFA FARM BUSINESS MANAGEMENT CDE QUESTIONS AND ANSWERS
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NATIONAL FFA FARM BUSINESS MANAGEMENT CDE QUESTIONS AND ANSWERS
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Name: Score:242 Multiple choice questions
Definition 1 of 242
Changes in price which tend to follow a predictable pattern within a year.
Price Fixing
Price Volatility
Market Value
Price Seasonability
Definition 2 of 242
Costs of the fixed and variable inputs needed to obtain output.
Income
Put Option
Marginal Input Cost
Cost of Production
Definition 3 of 242
The quantity of a good or service consumers are willing and able to purchase at a given price
in a specific time period.
Small, Large
Quantity Supplied
Demand Shifters
Quantity Demanded
,Definition 4 of 242
Total operating expenses divided by operating receipts.
Balance Sheet
Current Ratio
Debt Ratio
Operating Ratio
Definition 5 of 242
The income or profit realized from an investment. Many times we refer to percentage return on
investment.
Return on Investment (ROI)
Return on Assets (ROA)
Effective Demand
Total Costs (TC)
Definition 6 of 242
Adjusted gross income less all itemized deductions and personal exemptions.
Delivery Month
Price Seasonability
taxable income
Marketing Margin
,Definition 7 of 242
Something toward which effort is directed. More specific that goals. Usually expressed in
terms of a quantifiable activity to be completed in a state period of time.
Cooperative
Objective
Market
Subjective
Definition 8 of 242
The collection of all accounts maintained by an organization from which summary information
is obtained to generate financial statements and other management reports and performance
measures.
Objective
Income Statement
Balance Sheet
General Ledger
Definition 9 of 242
A ratio of output to input. Economic efficiency refers to the ratio of output value to output cost.
production efficiency refers to the ratio of output quantity to input quantity.
Diversification
Productivity
Liquidity
Efficiency
, Definition 10 of 242
Projection or estimate of future performance. As in a pro forma income statement.
Pro Forma
Partial Budgeting
Balance Sheet
Personal Property
Definition 11 of 242
A process that transforms one or more inputs into one or more products.
Production
Efficiency
Capitalization
Marketing
Definition 12 of 242
A business organization that is structured as a corporation and that qualifies as a corporation
for all purposes except taxation.
Producer
Farm Financial Standards Council
Subcharter S Corporation
Cooperative
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