Farm Management
Agricultural Science · 50 practice questions
Qualities, functions and problems of a farm manager; farm records and record-keeping; stock evaluation (gross/net profit, appreciation/depreciation/salvage value); agricultural insurance (meaning, importance, types, problems).
- Identify the qualities/functions/problems of a farm manager.
- Differentiate types of farm records and give reasons for keeping them.
- Determine gross/net margins and appreciation/depreciation/salvage value.
- Examine the relevance and problems of agricultural insurance.
Try a few questions
- Practice question 1
Succession planning for farm ownership mainly aims to
- A.guarantee the farm business will cease to exist after the current owner
- B.eliminate the need for any future ownership of the farm
- C.apply only to very large, corporate farming operations
- D.ensure a smooth transfer of the farm business to the next generation or owner
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D. ensure a smooth transfer of the farm business to the next generation or owner
Good succession planning prepares for an orderly transition rather than an abrupt one.
- Practice question 2
Farm records mainly help a manager to
- A.ignore the farm's actual performance
- B.make decisions with no supporting information
- C.increase confusion about farm operations
- D.track farm performance and make informed decisions
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D. track farm performance and make informed decisions
Good records provide the data needed for sound management decisions.
- Practice question 3
Farm inventory mainly refers to
- A.a record of only the farm's outstanding debts
- B.a record of all resources and assets owned by the farm at a given time
- C.a record of the weather conditions over a season
- D.a record of the personal expenses of the farmer
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B. a record of all resources and assets owned by the farm at a given time
Inventory captures the full stock of a farm's assets and resources at a point in time.
More UTME Agricultural Science topics
- Factors of Agricultural Production
- Farm Surveying and Farmstead Planning
- Forms and Classification of Major Farm Animals in West Africa
- Meaning and Scope of Agriculture
- Rocks and Soil Formation
- Basic Economic Principles
- General Terminologies in Animal Production
- Importance of Agriculture
- Simple Farm Tools
- Soil Water and Soil Conservation
- Agricultural Ecology
- Anatomy and Physiology of Farm Animals
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