The purpose of insurance is to
Answer: reduce risk and uncertainty
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Business Management
- Accounting methods that accurately reflect income and expenses are satisfactory for income tax reporting purposes. The ___________of accounting is most widely used by farmers.
- A listing of all property owned and money owed is called
- An appropriate use for short
- Suppose that the government passed a law setting the maximum interest rate that could be charged to agricultural producers by commercial banks at 5%. A likely result would be that
- A producer most often uses a cash flow statement to
- A plan that projects expected returns and costs is called a
- The total quantity of goods and services produced is called
- All of the following are said to be inelastic with regard to demand except
- Speculators in the futures market
- Hedgers and speculators in the futures market are different in that
- The process of using futures contracts for forward pricing is called
- A business is solvent if
- ______ is a means of shifting risk of uncertain events, at a cost, from you to someone else specializing in taking risks.
- ____ is the act of lending money at an excessive or unlawfully high rate of interest.
- When a piece of equipment such as a combine or a truck, has declined in value over its useful life, it has
- If you make a mistake when filling out a check, you should
- Which of the following is not a characteristic of a cooperative?
- ______ is a measure of how sensitive the market is to a change in one of the parts.
- Jim has a good reputation as a rancher and maintains good fences. During a storm one night a tree fell across his fence and one of his cows wandered out into the road and was hit by a car. The driver was not injured, but the cow died and there was considerable damage to the car. Who was responsible for the car repair and the cost of the cow?
- When a banker asks a person to pledge land, his truck, and livestock to obtain a loan, this property is referred to as
- As a cooperative member, your share in the profits the cooperative made are distributed to you on the
- One way government might influence the production of certain products or commodities would be to
- Joe is a U.S. apple producer, all his factors of production have remained constant over the last two years, however, suddenly U.S. apple production has soared, with production factors still remaining constant, Joe can expect apple prices to
- A Georgia cotton farmer might anticipate an increase in the demand for U.S. cotton by the following event
- Storage of a product has the following effects
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