Agribusiness Financials AFNR

a physical count of all assets in a business

• revenue

• liabilities

• inventory

• assets

the amount of money received from selling a product or providing a service

• income

• expense

• asset

• liability

any costs associated with producing a product

• income

• expense

• asset

• liability

reduced value of an asset over time from wear and tear

• variable

• depreciation

• inventory

• fixed

Which of the following is a depreciable asset?

• equipment

• fertilizer

• seed

• market livestock

Which of the following is a depreciable asset?

• hay/grass

• breeding livestock

• grain

• market livestock

Which of the following an depreciate or appreciate in value?

• crops

• buildings

• equipment

• land

To find profits, a business owner takes...

• income - expenses

• depreciation - income

depreciation is considered an

• income

• expense

expenses that are predictable and occur from month to month are called...

• fixed

• variable

• static

• depreciable