Farm Budgeting
3 practice questionsAgricultural ScienceStep-by-step solutions
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1
A farm budget is primarily used to:
A.Plan expected income and expenses
B.Record the weather
C.Test the soil
D.Breed animals
2
A farm's gross margin is calculated as:
A.Total revenue minus variable costs
B.Total assets minus liabilities
C.Yield times area
D.Revenue plus subsidies
3
A farm's profit (net income) is calculated as:
A.Total revenue minus total costs
B.Total costs minus revenue
C.Revenue plus costs
D.The number of crops grown
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