Ag Business Terms

Liabilities are also known as what?

• assets
• equity
• debt
• inventory

This is the name of items you have paid in full and you own

• assets
• liabilities
• equity
• net worth

Debts that are not due this year are called what?

• current liabilities
• non-current liabilities
• current assets
• non-current assets

When keeping your records, it is always important to record what you are producing, your income, and your expenses with this type of SAE

• supplementary
• exploratory
• placement
• entreprenuership

Rent is considered a __________

• Asset
• Equity
• Liability
• Bill

Items that you own that have a useful life for more than one year are considered what

• current liabilities
• non current liabilities
• current assets
• non current assets

A paycheck from your boss is considered an ___________

• Cash Income
• Cash Expense

If you are asked to sign a work agreement that has been signed by your agriculture teacher and parents then you are performing this type of SAE

• supplementary
• placement
• improvement
• exploratory

A list of items that you have on hand at any type of retail store

• equity
• inventory
• interest
• debts

When keeping financial records for this type of SAE, you should keep record of ALL income and expenses. 

• Exploratory
• Job Shadowing
• Placement
• Research