Because students' interests change and new skills are developed throughout high school, student's SAEs should change and grow to:

• be based on activities completed in class.

• align with their career plan.

• be instructor led.

• stay the same.

Susan is seeking a loan to start a pet grooming service. She is asked to complete a net worth statement, so the bank can determine her:

• current assets.

• equity.

• inventory.

• total liabilities.

If a pet store owner has a $500,000 mortgage on her land and buildings, and she owes Farm Credit Service $120,000 for this year’s mortgage payment, what amount should be entered on the current liability line of the financial statement?

• $120,000

• $440,000

• $500,000

• $560,000

Cash and things that are owned by the individual or the business for which a financial statement is prepared are listed as:

• assets.

• equity.

• .

  liabilities.

• working capital.

If a business has $10,000 cash on hand, $25,000 in a checking account, and land valued at $300,000, on which line of a financial statement should the $335,000 total be entered?

• Current assets

• Net worth

• Total assets

• Total liabilities

If a small animal breeder has a $300,000 mortgage on his land, and he owes Farm Credit Service $40,000 for this year’s payment, what amount should be entered on the noncurrent liability line of the financial statement?

• $30,000

• $260,000

• $250,000

• $280,000

When preparing a financial statement for his vet clinic improvements, Dr. Josh had to include the amount of mortgages that are not due this year as:

• current assets.

• current liabilities.

• noncurrent assets.

• noncurrent liabilities.

If a veterinary office has total assets of $350,000 and total liabilities of $120,000, what amount should be entered on the net worth line of a financial statement?

• $100,000

• $240,000

• $400,000

• $700,000

If the financial statement of a pet grooming business lists total liabilities of $400,000 and a net worth of $100,000, what is the debt-to-equity ratio?

• 1:01

• 1:03

• 4:01

• 4:04

Which part of the foundational SAE did Amber complete when she filled in an interest inventory to determine a future job?

• workplace safety

• agricultural literacy

• career exploration and planning

• employability skills for college and career readiness