D. Business management

A farm business accounting period for July 1,2010 to June 30,2011 would be an example of what type of accounting period?

• calendar year accounting period

• fiscal year accounting period

• quarterly accounting period

• monthly accounting period

which of the following items would NOT be a farm business expense for the accounting period?

• cash used to purchase new machinery

• cash used to purchased livestock feed

• cash used to purchase feeder livestock

• cash used to purchased fertilizer

which of the following effectively puts a cost ceiling on raw material costs such as feed costs?

• put option

• call option

• derived demand

• supply curve

one who sells future contracts to protect a producer from price fluctuations is known as _____________.

• bear

• hedger

• short

• bull

the right to sell underlying futures at a specific price is known as ___________.

• direct marketing

• supply curve

• put option

• call option

one who believes prices are too high and will decline is known as _______________.

• bull

• bear

• seasonal

• short

one who believes prices are too high and will decline is known as ________________.

• bull

• bear

• short

• seasonal

A farm business accounting period for January 1, 2011 to December 3,2011 would be an example of what type of accounting period?

• calendar year accounting period

• required accounting period

• monthly accounting period

• quarterly accounting period

supplies are paid for during an accounting period, but at the end of the accounting period , the supply inventory is larger. this indicates which of the following?

• cash expenses overstate actual expenses for the accounting period

• cash expenses understate actual expenses for the accounting period

• cash expenses are an accurate measure of supply expenses for the accounting period

• cash receipts are an accurate measure of supply expenses for accounting period

which of the following items would be a farm business expense for an accounting period?

• cash used to purchase new machinery

• cash used to purchased livestock feed

• cash received for the sale of livestock

• cash used to purchased groceries