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2021 State Final Farm Business Management

Authored by Caleigh Robinson

Other

9th Grade

Used 1+ times

2021 State Final Farm Business Management
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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the final step in the decision-making process?

Gather Information

Evaluate Alternative Solutions

Evaluate Decisions

Define the Problem

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following refers to goals that can be achieved within one year?

Objectives

Short-term Goals

Intermediate Goals

Long-term Goals

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which financial record shows the financial condition of a business at a particular point in time, and includes all assets and liabilities of the business?

Chart of Accounts

Net Worth Statement (Balance Sheet)

Income Statement (Profit and Loss)

Statement of Cash Flows

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would not be found in the operations Physical Records?

Unpaid Family Labor

Crop Yields

Weaning Weights

Depreciation Schedules

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under which of the following accounts would you find an Operating Loan?

Accounts Payable

Prepaid Expenses

Accounts Receivable

Cash Account

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which measure of liquidity is defined as the current assets divided by the current liabilities?

Current Ratio

Working Capital

Debt Structure

Asset Structure

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Net Worth or Owner Equity refers to the difference between

Total Assets and Total Liabilities

Total Revenue and Total Expenses

Total Cash Income and Total Cash Expenses

Beginning Net Worth and Ending Net Worth

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