FFA SAE Careers

On a net worth statement, net worth is the same as:

• Current assets

• Equity

• Inventory

• Total liabilities

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 swine producer has a $500,000 mortgage on his land and buildings, and he owes Farm Credit Service $60,000 for this year’s mortgage payment, what amount should be entered on the current liability line of the financial statement?

• 60,000

• 440,000

• 500,000

• 560,000

After a student has evaluated his/her own interests and has narrowed the field of jobs, then the student should:

• apply for a job.

• complete a job application.

• go for a job interview.

• study the requirements of the job.

Considering one's interests, abilities, and other personal characteristics is the first step in developing a:

• career plan.

• job application.

• job interview.

• résumé.

On a financial statement, items that can be quickly converted to cash or that will be sold within 12 months are:

• current assets

• current liabilities.

• equity.

• net worth.

For a school-to-work employment plan to help a student, the plan must be:

• complex

• implemented

• signed by the principal

• simple

On a financial statement net worth is:

• current assets minus current liabilities.

• current liabilities plus current assets.

• total assets minus total liabilities.

• total assets plus total liabilities.

The part of a net worth statement that shows all debts is:

• current liabilities.

• debt-to-equity ratio.

• inventory.

• total liabilities.

The type of SAE that requires planning, implementing, operating, and assuming financial risk is:

• entrepreneurship.

• placement.

• improvement.

• experimental.