Exam (elaborations)
CDE FARM BUSINESS MANAGEMENT QUESTIONS & ANSWERS
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CDE FARM BUSINESS MANAGEMENT QUESTIONS & ANSWERS
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CDE FARM BUSINESS MANAGEMENT QUESTIONS &ANSWERS
First step in decision making process - Answers-Define the problem
Short term goals are normally achieved in - Answers-1 year
How do you find liquidity current ratios - Answers-Divide current assets by current
liabilities
How do you find liquidity working capital - Answers-Subtract current assets by current
liabilities
How do you find liquidity debt structure - Answers-Current liabilities divided by total
liabilities x 100
How do you find liquidity asset structure - Answers-Current assets divided by total
assets x 100
Cash flow budget projects what over a specific time period ? - Answers-Money flow,
receipts, expenditures
Modern farming is best described as - Answers-Capital intensive
A farm budget is - Answers-A prediction of what will happen
Fixed or long term assets - Answers-Items which are at least marketable and least
readily converted into cash without loss
sole proprietorship - Answers-Most common form of business arrangement in the US
Long term credit should be used for such items as - Answers-Value reduction,
amortization, diminishing returns
Stock certificates - Answers-When you incorporate a farm business, the assets of the
business are transferred to the corporation in exchange for
Receipts - Answers-Income received from sales of commodities produced, services
rendered, etc.
Liabilities - Answers-All your debt obligation to others
Accrual method of counting - Answers-Method of cash transactions to determine income
Accrual method of counting 2 - Answers-Farmer includes fluctuations in inventory to
determine income at the end of the year, he is using the
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