2017-19 FBM Vocab

Dilly Dally Farms is adding a new enterprise to the operation. This is a

a business owned by its customers or patrons is...

which of the following statements can be used to determine likely monthly borrowing needs for R U Crazy Inc.

a tax deductible expense:

what are two general types of inputs used in a production process?

Lisa has agreed to sell 5,000 bushels of soybeans to her nearby elevator on July 1 at a specified price. This is a...

revenue protection insurance offers a farmer a guaranteed

which of the following values is least likely to appear on a balance sheet?

which of the following financial statements would be best for analyzing a farms solvency

a cash flow statement shows:

costs that do not change in the short run regardless of output level for a firm are called...

the amount of a trucks purchase price that Ramsey can deduct for an income tax purpose this year is called

what does the "R" in "DIRTI 5" in farm management represent

if China imposes a tariff on grain imports from the U.S., this will likely...

the most common form of organization for a farm or ranch is...

a strike price is...

prorating that cost of capital asset over the useful life of that asset for income tax purposes is...

in economics, the term 'risk taker' is often used to describe what?

which of the following refers to measures that are computed as dollar values per unit of resource

the accounting method that records cash receipts when they are received and cash expenses when they are paid is

a "premium" is an economic term associated with the price paid for:

what is the economic concept that notes a given dollar monetary payment is worth more the sooner the payment is made?

which of the following is a tax-deductible expense?

if Hidden Valley Farms is breaking even, they are operating where:

revenue per head of cattle marketed by Acme Feeders is an example of :

an asset's cost minus the asset's accumulated depreciation=the asset's

the incremental cost to a wheat farmer of producing one more bushel of wheat is this type of cost

the profit-maximizing quantity of output is where...

a corn farmer would be attempting to establish a price floor on the corn they sell in the future by

the difference currently between a local market soybean cash price and a soybean futures contract price is...

a whole farm financial statement that shows all expected revenues and costs is also commonly called a...

the management term describing a period of time to record income and expenses that does not follow a calendar year

which of the following is a profitability ratio

owners equity on a balance sheet is the same as

if there is a maximum amount of money an owner of True Mark inc. can lose by investing in the company that is known as

in marketing 'basis' is the difference between...

a current asset is one that:

a farm needs to buy corn because they don't have enough to meet their needs. what corn market 'position' do they have?

brokers may have a hedger deposit money to protect against decline in value of their account due to market price called:

average fixed cost is total fixed cost

the total debt of Hilly Acres divided by the total assets of Hilly Acres is what type of financial ratio...

making plans as to how John Doe's assets will be passed on to his descendants when he dies is known as

a change in inventory is likely used in calculating

the ability to convert assets into cash is known as...

the proportion of assets of a firm financed by non-owners of the business is...

in a market the price where the demand curve ans the supply curve intersect is known as...

planning, organizing, and controlling are typically listed as functions of...

which of the following is often considered to be an advantage of the sole proprietorship form of business?

financial statement that itemizes revenues and expenses for an enterprise that is part of rolling hills farm is called

the proportion of assests of a firm financed by non owners of the business is called

this is the principal on a loan taken out by Farmer Smith

the forgone rental income to a farmer who operates his own farm instead of renting is...

generally, the cost of improvements to farm property:

interest expense owed would show up on a balance sheet as...

the part of a loan that is repaid during a year is what type of payment?

measures of the ability of Blue Sky Acres to pay off long-term debt obligations are typically these types of ratios

everything else the same, an increase in an options strike price will:

which of the following causes a movement along a given market demand curve for pork chops but does not shift the curve

Porky is raising market hogs to sell in 2-3 months and plans to sell them at the market price at that time, Porky is:

user ownership, user control, and user benefits are distinguishing principles for...

if Piggly Wiggly has a "short" futures postion in the live hog market, they have:

the maximum price buyers are willing to pay for different quantities of a given product is shown graphically by...

the highest value of what Joan Jones gives up to operate a one acre garden is known as

which of the following is a non cash expense that would appear on an income statement

which of the following is true at the breakeven quantity of output for a business firm?