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34 Cards in this Set
- Front
- Back
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We must look at _______________ when we are deciding what to do with the farm?
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Farm Loans
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What are some things to consider when planning your operation?
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Personal goals, economic goals, environmental goals, community goals
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Six factors to consider when planning your operation?
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climate, crop rotation, risk, building space, topography, amount of loans
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A _____________ is generally a list of expensives and revenues?
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Budget
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Name 4 places you can borrow money?
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Commerical banks, Insurance Companies, Insurance, Individual
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What are 2 farm loans?
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Commercial farm loans
Part Time Farm Loans |
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Part-time farm loans have a ______________ year fixed period and there are no pre-payment penaltes.
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30
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Farm loans such as beggining farmers, rancher loans; down payment farm ownership loans; emergency loan assistances, Farm storage facility loans and farm ownership loan can be used to purchase what?
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Land, Livestock, Equipment
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Always do what best suits your neighbor?
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True
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What is the purpose of farm office?
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provides physical contact and improves your morale but makes your morale but makes entire operation more efficient.
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The farm office must be ___________________ in order to manage properly?
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Organized
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Why are farm records so important?\
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help form planning improvement, to tell what the effiences are, help accessing loans, and acts as a future reference.
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What is the purpose of keeping farm records?
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To make sure you don't do the same mistakes twice
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What are three kinds of farm records?
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resource, inventories, production accounts of livestock, income and expense records.
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What are the two accounting periods?
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Calender year, Fiscal year
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What is the difference between two accounting periods?
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Calendar - easy for tax preparations
Fiscal year - 12 month period over which a company budgets it's spending. |
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Your ________________ system should provide an accurate picture of your business and how it is doing?
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Accounting
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What are the two ways to handle a system?
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Cash Method
Accural Method |
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What is Accrual Method?
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keeps track of what expenses apply to current period
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___________________ A systematic organization of everything owned and owed by a business or indivdual at a particular point in time?
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Balance sheets
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________________ anything of value controlled by a business or individual.
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Assets
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What is the difference between a current assets and non-current assets?
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Current Assets - items will be used up within a year as part of normal business
Non current assets - items not use up within the next year as part of normal business |
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What is the difference between current liabilities and non-current liabilities?
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Current liabilities - debt owed within a year
Non Current liabilities - debt owed for several years |
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Amount of money left over for the owner after all assets are sold and liabilities paid?
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Owners Equity
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What are some things that you can do to help save the environment?
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Save Energy, Save Gas, Bottled Water, Conserve Water
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What are three current world problems in the World?
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Erosion, Pollution, Environment
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What are some major contribuors to land pollution?
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industrail factories, mining, littering
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The best way to prevent land pollution is to?
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recycle
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What are some major contributors to air pollution?
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Tobacco smoke, power plants, manufacturing buildings
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What are some ways to prevent air pollution?
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Don't smoke, avoid using lighter fluid, always replace your car filter
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One of the easiest and basic meanings of becoming more environmentally considerate is to
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Reuse, Reduce, Recycle
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What are 3 branches of government?
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Judicial, Executive, Legislative
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The legislative branch consist of?
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House of Representative and the senate
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What does the governor do?
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he is responsible for running state government, in charge of nation guard in his or her states responsible for enforcing state laws.
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