NEW
Font size
WorksheetsEquine 1 Obj. 3.02 - Equine Enterprises
Total questions: 16
Worksheet time: 5mins
The cost for bedding increases when horses are confined to a:
farm.
paddock.
pasture.
stall.
What is the major advantage of a paddock and shelter instead of a stall?
Bedding is provided.
They are cheaper to maintain.
Horses keep cleaner.
Weather is not a problem.
Which is a major step in operating a successful equine business?
Create another sideline "farming activity to help pay bills"
Know what the market is for your horse activity
Make all plans on the spur of the moment
Use only inbreeding to preserve the lineage
A horse that can be bought with a low initial investment because it is not registered with a specific breed register is a:
breeding mare.
breeding stallion.
grade horse.
racehorse.
In addition to grooming and feeding, the sales agency provides:
advanced training for established show horses.
basic training for yearlings and weanlings.
breeding services for geldings and mares.
stud service for colts and foals.
How does the Internal Revenue Service tell the difference in horses kept for a hobby and horses kept for a business?
If all horses kept for the activity are of the same breed, it is considered a business.
If more than one horse has been purchased over the last five years, the activity is considered a business.
If the horse activity is operated in a businesslike manner with a profit motive, it is considered a business.
DIf there is more than one horse being kept, the activity is considered a business.
A major reason a plan is needed prior to going into an equine business is it:
eliminates the need for estimation.
forces the owner to spell out objectives.
helps one make "piecemeal decisions."
keeps one from looking ahead.
In order to keep a horse’s feet in good condition, a farrier must trim the horse’s feet and replace its shoes at least every:
6–8 weeks.
8–9 months.
1–2 years.
3–4 years.
Which has the most impact on the purchase amount one has to pay for a horse?
Amount of bedding required
Cost of rye and pasture
Size of the paddock the horse was raised in
Training the horse has received
Which is most likely to influence a person to get into an equine business?
He/she failed to make enough money on hogs.
Horses are cheaper to buy than cows.
Horses require very little management.
He/she already owns horses as a hobby.
What is a major advantage of incorporating an equine business?
Fewer state laws affect corporations than other types of businesses.
It costs to do business in the form of a corporation.
One person has sole responsibility for the corporation.
There is limited liability for businesses that are incorporated.
One indication that too many horses are being kept at a boarding stable is:
clean, fresh water supplied in several troughs.
evidence of overcrowding on pastures.
several stalls in one barn.
stalls with lots of clean bedding.
What is the purpose of the breeding farm?
To lease horses for riding
To maintain horses for owners
To produce yearlings for sale
To train horses for show
A major factor affecting the demand for equine enterprises is the:
availability of teaching resources.
breed association literature being used.
other farming enterprises available.
use of horses in today’s society.
Accurate records used in an equine business will:
cost more than it is worth.
encourage an IRS audit.
increase the need for bank loans.
keep taxes to a minimum.
Mike believes the sole proprietorship is the best form of doing business on his horse farm because the farm is:
jointly owned by two people.
owned by one person.
owned by a family.
run by a board of directors.
