ANS 2 Food - Obj. 2.01 Finances Lesson

On a financial statement, net worth is:

The part of a net worth statement that shows all debts is:

If a boarding stable has total assets of $700,000 and total liabilities of $300,000, what number is the correct entry on the net worth line of a financial statement?

Mortgages that are not due this year are entered on a financial statement as:

If a riding stable has a $500,000 mortgage on land and buildings, and owes Farm Credit Service $60,000 for this year’s mortgage payment, what amount should be entered on the current liability line of the financial statement?

If a horse farmer has $6,000 cash on hand and $30,000 in a checking account, on which line of a financial statement should the $36,000 total be entered?

On a net worth statement, net worth is the same as:

If items are to be sold within the next twelve months, they are considered:

If an equine business has $10,000 cash on hand, $30,000 in a checking account, and land valued at $300,000, on which line of a financial statement should the $340,000 total be entered?

If a boarding stable's financial statement shows total liabilities of $400,000 and a net worth of $200,000, the debt-to-equity ratio is:

If a boarding stable’s inventory shows 2 tons of feed worth $300 per ton, supplies worth $1,000, and 40 acres of land valued at $9,000 per acre, what amount should be entered for the total on the nondepreciable inventory line of the inventory page?

In considering your monthly budget, dinners out and groceries would be what?

You are deciding whether or not to make a purchase using credit or debit. What is the difference?