Enterprise Budgets Quiz
Authored by Jarret Horn
Business
12th Grade
Used 1+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of an Enterprise budget?
An estimate of the cost for the entire farm operation
An estimate of the cost, returns, and profit for a single activity on a farm
An estimate of the cost for a livestock operation on a farm
An estimate of the cost for a single crop on a farm
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to create an Enterprise budget?
To maximize profits across the entire farm
To determine the cost of purchasing farm equipment
To determine the cost of running the entire farm operation
To determine the cost of running a single activity on a farm
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is best suited to develop a budget for an Enterprise?
An expert with a degree in agribusiness
The individual who is going to run the Enterprise
A computer programmer
A financial analyst
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of intermediate calculations in an Enterprise budget?
To calculate the total revenue of the Enterprise
To calculate the total variable costs of the Enterprise
To provide a target for the profitability of the Enterprise
To provide a breakdown of the fixed costs of the Enterprise
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the cost of Free Labor in an Enterprise budget?
The cost of training new farm workers
The cost of purchasing labor-saving equipment
The cost of hiring labor from outside the farm
The cost of labor paid to family members working on the farm
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the cost of capital in an Enterprise budget?
The cost of using the owner's own funds for the Enterprise
The cost of borrowing money for the Enterprise
The cost of investing in new technology for the Enterprise
The cost of purchasing land for the Enterprise
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of including a cost of capital in the budget?
To calculate the total variable costs of the Enterprise
To account for the opportunity cost of using the owner's funds
To calculate the total revenue of the Enterprise
To provide a target for the profitability of the Enterprise
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