Farm and Ranch management exam 2 questions n answers

Farm and Ranch management exam 2
questions n answers


According to Mark Coberly, what is the most important thing a farm or ranch manager should
know? - correct answer ✔✔Cost of production



Farm and ranch managers need a team. Who should be on this team? - correct answer
✔✔Banker, marketer, accountant, and lawyer.



Using $100,000 in cash and a new loan of $200,000 to purchase land for $300,000 will cause
equity to? - correct answer ✔✔Not change



If the debt/asset ratio is increasing, then the debt/equity ratio will be? - correct answer
✔✔Increasing



What is not one of the three basic standards of comparison for farm businesses? - correct
answer ✔✔Farmers Almanac



Mark Coberly and Daniel and Christine mush rush said decisions have to come down to the fact
that farming or ranching is a? - correct answer ✔✔Business



A statement of owner equity shows - correct answer ✔✔The sources and amounts of changes
in owner equity



The depreciation method with the greatest depreciation in the first year is? - correct answer
✔✔double declining balance