Aquaculture CH: 17

Are the expenses that do not change regardless of whether production occurs, such as depreciate

An-lets employees know where they stand on a regular basis and includes guidelines for wage up.

--Equity provided by family member

Variable costs are the expenses that vary based on production output, such as feed, fingerlings

Each decision a manager makes, or fails, can impact the business

Aquaculture business managers do not need to know how to keep the required records for business

Having sufficient means to pay all debts or a firm's ability to pay all obligations-

Can be estimated by subtracting all costs from expected revenues.

Assets minus liabilities equals-

At the core of the management concepts is a set of_ and objectives for the business, clarified.

A-shows the income earned by the business before taxes and contains the other two of the five.

-Is the amount of money received periodically in return for goods, labor, or services.

A-is a specific process or activity that requires a certain amount of risk to make a profit.

It is best to balance the checkbook against the record book on a yearly basis.

In-accounting, the income is recorded as income when it is received, and expenses are recorded.

Strategic planning is analyzing the business and the environment in which it operates under.

Failure to provide-sends the wrong and confusing message to workers.

Estimating the costs and returns for a particular activity is called developing-

A-is run by the government.

The ability to generate profit out of gross production is called-

When starting a business, items such as the fry or fingerling, processing and storage, etc. Are

It is best to pay bills by cash because it is easier to work with when doing business.

__Is payment back to the lender for the use of money or credit

In-accounting, expenses are considered expenses when they are committed, and income is counted.

--Is what a business owns

All employees require training

Comparative analysis is a comparison of one operation's results with those of a similar one.

Instructions should be given every day to well trained and well supervised employees.

___Is the development and management of the material wealth of government, community, etc.

Determining the point where income is equal to the total of the fixed costs and variable costs.

Actual money available in a business to pay salaries, expenses, dividends, (purchase new stuff)

-Pay no federal income tax

A mission statement should contain about 500 words.

-Are the subject to Worker's compensation charges on their salaries and are entitled to benefit

--Summarize three of the five accounts in a complete accounting system.