1 for specific request mail
FARM BUSINESS MANAGEMENT FFA CONTEST
Questions and Correct Answers | Latest Update
the person who rents from someone else is also known as Ans: the
tenant
in marketing, the difference between a futures contract price for a given
delivery month and a current local cash market price is called Ans: the
basis
cash income minus cash expense equal Ans: net cash income and cash
Assignment Expert
profit
lenders want to see a cash flow to determine Ans: how much money the
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borrower will need and when the borrower can pay back the loan
a loan to purchase seed, fertilizer and chemicals is generally called Ans:
an operating loan
2026
An individual seller typically has very little control over the price he/she
receives for their product at a given point in this type of market Ans:
©
purely competitive
things of value that are owned are generally referred to as Ans: assets
solvency is best measured by Ans: net capital ratio
the size of one soybean futures contract on the Chicago Board of Trade is
Ans: 5,000 bu.
At the beginning of last year, a farmer had an outstanding loan of
$100,000. The interest rate was 10% APR. If the farmer made one loan
payment at the end of the year of $25,400 what was the outstanding
balance at the end of the year. Ans: $84,600
, 2 for specific request mail
An ordinary corporation is a business that is normally Ans: owned by
investors who are not customers & controlled on a 1 share of stock, 1
vote basis
money provided to or invested in an agricultural business by the owners
is normally referred to as Ans: equity capital
the nearby hog futures contract closed at $49.80 with a local basis of
$1.85. the local cash market price was? Ans: $49.85
a partial budget is Ans: used to evaluate a change in some aspect of the
business such as purchasing new equipment
Assignment Expert
the following is bought and sold on the Chicago Board of Trade Ans:
corn futures contracts
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a cash flow budget is Ans: a projection
the manager of a cooperative is generally Ans: hired by the board of
2026
directors
economies of size tells us that Ans: bigger businesses use management
©
resources more efficiently that smaller ones& bigger businesses use
assets more efficiently than smaller ones
cooperative profits can be paid back to customers using Ans: patronage
refunds
when a farmer pays a loan in full, the component of the payment equal to
the amount borrowed is Ans: principle
an annuity is Ans: a series of equal annual payments
equity is Ans: the net worth of the business & the owner's share of the
buisness
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suppose a dairy farmer's cost of milk production increased by 6.5% from
the $8.50 per hundred weight that is was last year. What is the farmer's
new cost of milk production. Ans: $9.05
the tax deductible allowance for the loss in value of a fixed asset due to
wear and tear or obsolescence is known as Ans: depreciation expense
wages or salaries that are lost as a result of attending college instead of
working represents Ans: opportunity cost
the financial method of reporting income by recording income in the year
that the cash is received is known as this method Ans: cash
Assignment Expert
a measure of a farmer's ability to pay their bills this year is given by the
farmer's Ans: current ratio
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according to economics, prices in free markets are determined by the
interaction of supply are Ans: none of the above
2026
(income, production, costs)
net worth of a farm of agricultural business is equal to Ans: equity
©
An income statement is also called Ans: a profit and loss statement
the traditional parts or factors of production used by farm of
agribusiness firms in production include all of the following except Ans:
money
working capital = Ans: current assets- current liabilities
the portion of land debt due after this year is classified as Ans: a non-
current liability
which of the following is most likely to qualify for depreciation for tax
purposes Ans: livestock purchased for breeding or dairy purposes
FARM BUSINESS MANAGEMENT FFA CONTEST
Questions and Correct Answers | Latest Update
the person who rents from someone else is also known as Ans: the
tenant
in marketing, the difference between a futures contract price for a given
delivery month and a current local cash market price is called Ans: the
basis
cash income minus cash expense equal Ans: net cash income and cash
Assignment Expert
profit
lenders want to see a cash flow to determine Ans: how much money the
Guru01 - Stuvia
borrower will need and when the borrower can pay back the loan
a loan to purchase seed, fertilizer and chemicals is generally called Ans:
an operating loan
2026
An individual seller typically has very little control over the price he/she
receives for their product at a given point in this type of market Ans:
©
purely competitive
things of value that are owned are generally referred to as Ans: assets
solvency is best measured by Ans: net capital ratio
the size of one soybean futures contract on the Chicago Board of Trade is
Ans: 5,000 bu.
At the beginning of last year, a farmer had an outstanding loan of
$100,000. The interest rate was 10% APR. If the farmer made one loan
payment at the end of the year of $25,400 what was the outstanding
balance at the end of the year. Ans: $84,600
, 2 for specific request mail
An ordinary corporation is a business that is normally Ans: owned by
investors who are not customers & controlled on a 1 share of stock, 1
vote basis
money provided to or invested in an agricultural business by the owners
is normally referred to as Ans: equity capital
the nearby hog futures contract closed at $49.80 with a local basis of
$1.85. the local cash market price was? Ans: $49.85
a partial budget is Ans: used to evaluate a change in some aspect of the
business such as purchasing new equipment
Assignment Expert
the following is bought and sold on the Chicago Board of Trade Ans:
corn futures contracts
Guru01 - Stuvia
a cash flow budget is Ans: a projection
the manager of a cooperative is generally Ans: hired by the board of
2026
directors
economies of size tells us that Ans: bigger businesses use management
©
resources more efficiently that smaller ones& bigger businesses use
assets more efficiently than smaller ones
cooperative profits can be paid back to customers using Ans: patronage
refunds
when a farmer pays a loan in full, the component of the payment equal to
the amount borrowed is Ans: principle
an annuity is Ans: a series of equal annual payments
equity is Ans: the net worth of the business & the owner's share of the
buisness
, 3 for specific request mail
suppose a dairy farmer's cost of milk production increased by 6.5% from
the $8.50 per hundred weight that is was last year. What is the farmer's
new cost of milk production. Ans: $9.05
the tax deductible allowance for the loss in value of a fixed asset due to
wear and tear or obsolescence is known as Ans: depreciation expense
wages or salaries that are lost as a result of attending college instead of
working represents Ans: opportunity cost
the financial method of reporting income by recording income in the year
that the cash is received is known as this method Ans: cash
Assignment Expert
a measure of a farmer's ability to pay their bills this year is given by the
farmer's Ans: current ratio
Guru01 - Stuvia
according to economics, prices in free markets are determined by the
interaction of supply are Ans: none of the above
2026
(income, production, costs)
net worth of a farm of agricultural business is equal to Ans: equity
©
An income statement is also called Ans: a profit and loss statement
the traditional parts or factors of production used by farm of
agribusiness firms in production include all of the following except Ans:
money
working capital = Ans: current assets- current liabilities
the portion of land debt due after this year is classified as Ans: a non-
current liability
which of the following is most likely to qualify for depreciation for tax
purposes Ans: livestock purchased for breeding or dairy purposes
