Farm Business Manage
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| Gross income is included in the year in which earned, regardless of when payment is recieved. This method involves the use of inventories to determine gross income. | Accrual Accounting Method
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| Interest is calculated on the beginning balance and then added to the principle to obtain the amount to be repaid in equal periodic installments. | Add On Interest
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| The repayment of a loan with a regular series of payments over a specified period of time. | Amortization
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| The receipt of (or the making of) a series of uniform payments over a period of time. | Annuity
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| Estimate of a fair market value for personal property or real estate. | Appraisal
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| Items or resources controlled by the firm. | Assets
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| Units of output divided by the number of units of input. | Average Yield
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| Same as net worth statement. | Balance Sheet
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| The original cost of an asset plusthe value of improvements or alterationless the cost of depreciation,losses, or depletion. | Basis, Adjusted
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| The difference between the cash market price and the price of the nearby (expiring) futures contract. | Basis, Marketing
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| A market participant who believes prices are too high and will decline. | Bear
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| One where large supplies and/or poor demand cause a decline in price. | Bear Market
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| Person named inan insurance policy to recieve proceeds at death of insured. | Beneficiary
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| Schedule of expected returns&cost. An enterprise budget shows the expected return&costs associated with a specific production activity (e.g.soybeans) while a whole farm budget shows the expected return&costs associated with all the enterprises on the farm | Budget
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| A market participant who believes prices are too low and will advance. | Bull
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| One where small supplies and/or strong demand causes prices to rise. | Bull Market
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| An aggregation of economic goods used for personal purposes, pleasure, or investment. | Capital Asset
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| The gain (loss) realizedfrom the sale of a capital asset when the asset is sold for more (less) than its initial purchase price or adjusted basis. | Capital Gains (Loss)
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| Process for placing a value on an asset based on its future earning power and the expected interest rate. | Capitalization
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