Farm and Ranch Management Exam 3
(Chapter 10, 12, 19) questions well
answered
Chapter 10 Questions - correct answer ✔✔Chapter 10 Answers
Sources of revenue for a crop enterprise budget could include any of the following except
A. crop residue grazed by cattle.
B. payments received from a government commodity program.
C. grain sales.
D. custom hire income from harvesting someone else's crops. - correct answer ✔✔A. crop
residue grazed by cattle.
Changing the value of one or more key variables in a budget to test the effect on profit is?
strategic planning.
linear programming.
sensitivity analysis.
break-even analysis. - correct answer ✔✔SA
Which of the following terms, if used on an enterprise budget, would be considered the same as
variable cost?
operating cost
, indirect cost
overhead cost
ownership cost - correct answer ✔✔operating cost
On an enterprise budget, fixed costs are also called
prepaid costs.
ownership costs.
direct costs.
operating costs. - correct answer ✔✔ownership cost
Ownership or fixed costs for farm buildings include all of the following except
utilities.
depreciation.
insurance.
interest on the investment. - correct answer ✔✔utilities
Which of the following would be a fixed cost on a typical crop enterprise budget?
machinery repairs
owned land charge
seed cost
hourly labor expense - correct answer ✔✔owned land charge
(Chapter 10, 12, 19) questions well
answered
Chapter 10 Questions - correct answer ✔✔Chapter 10 Answers
Sources of revenue for a crop enterprise budget could include any of the following except
A. crop residue grazed by cattle.
B. payments received from a government commodity program.
C. grain sales.
D. custom hire income from harvesting someone else's crops. - correct answer ✔✔A. crop
residue grazed by cattle.
Changing the value of one or more key variables in a budget to test the effect on profit is?
strategic planning.
linear programming.
sensitivity analysis.
break-even analysis. - correct answer ✔✔SA
Which of the following terms, if used on an enterprise budget, would be considered the same as
variable cost?
operating cost
, indirect cost
overhead cost
ownership cost - correct answer ✔✔operating cost
On an enterprise budget, fixed costs are also called
prepaid costs.
ownership costs.
direct costs.
operating costs. - correct answer ✔✔ownership cost
Ownership or fixed costs for farm buildings include all of the following except
utilities.
depreciation.
insurance.
interest on the investment. - correct answer ✔✔utilities
Which of the following would be a fixed cost on a typical crop enterprise budget?
machinery repairs
owned land charge
seed cost
hourly labor expense - correct answer ✔✔owned land charge
