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Financial and Physical Farm Records Flashcards | StudBud
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Financial and Physical Farm Records
Financial and Physical Farm Records
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Questions
20
Answers
1
Over what period of time is a profit and loss sheet calculated?
1 lifetime
1 Day
1 year
1 month
2
What is special about your National Insurance number?
Nothing special
It is unique
It is eunoch
Allows you to own a car
3
What is VAT?
Voles Are Terrific
Value Assisted Tax
Value Added Tax
Variable Added Tax
4
What is a balance sheet for? What will it show?
The profit
Cash in the Bank
The value of the farm
what a farmer is worth
5
Which of the following headings is NOT in a Profit and Loss sheet
Opening valuation
Income
Profit or Loss
Assets
6
What is the correct spelling?
Physical
Physicall
Fisicall
Phisicall
7
Which of the following headings is NOT on a Drug use sheet?
Animal ID
Nearest Hospital
Batch Number
Withdrawal period
8
Animal arrives on your holding on Jan 28th. What is the earliest day any can leave?
Feb 2nd
Feb 3rd
Feb 5th
Feb 4th
9
Which of the following is a financial record?
Medicine usage
Cash appreciation
Balance Sheet
Spending £10 in 30 seconds at Palace
10
On a pay slip what is SSP?
Statuetory Sick Pay
Statutory Sick Pay
Save South Petherton
Single Solo Pay
11
On a bank statement what does DD mean?
Direct Debt
Direct Debit
Decent Driving
Dangerous David
12
Buy Fertiliser for £200 Vat is 20% what is your total bill?
£240
£40
£120
£100
13
Which of the following headings is NOT on a movement record?
Dams ID
Account Number
Owner
DOB
14
Why are records kept?
Calculate Tax
Analysis
Legal
Farm assurance
15
What is currently the rate of standard VAT?
15%
20%
10%
25%
16
What is the standstill period following an on movement ?
Cattle cannot leave for 14 clear days
Cattle cannot leave for 6 clear days
No visitor are allowed on the farm
10 minutes nap after lunch
17
The government uses your profit and loss figures to calculate which tax?
Value added tax
Taxi
Road Tax
Income tax
18
What could happen if you falsify movement or drug use records? Only one correct answer
All 3
Fine
Imprisonment
Deductions from BPS payment
19
What do you use a cash analysis sheet for?
writing poetry
seeing where all the money went
cash analysis
calculating VAT
20
On a Pay slip what is Gross pay?
The amount of money you actually get paid
Total pay before any deductions
Unsightly £20 note
Sick pay
