NSC Agricultural Management Practices Advertising: The list below indicates charact

Question

The list below indicates characteristics of different types of budgets.

A) Measures only possible returns and expenses that result from an adjustment in the farm plan
B) Uses the previous year's financial statements
C) Developed on a per-hectare or per-head basis to allow for comparisons among alternative production lines
D) Is a summary of expected income, expenses and profit for the entire farm
E) Helps the farmer to decide whether to buy or hire machinery for harvesting
F) Is used in comparing the profitability of several farm plans, determining income potential and date payment capacity
G) Provides base information to construct the whole farm budget

4.2.1 From the list above, choose TWO characteristics of a whole farm budget. Write only the letters (A–G) next to the question number.

4.2.2From the list above, choose TWO characteristics of a branch budget. Write only the letters (A–G) next to the question number.

The list below indicates characteristics of different types of budgets - NSC Agricultural Management Practices - Question 4 - 2023 - Paper 1

Worked Solution & Example Answer:The list below indicates characteristics of different types of budgets - NSC Agricultural Management Practices - Question 4 - 2023 - Paper 1

4.2.1 From the list above, choose TWO characteristics of a whole farm budget.

4.2.2 From the list above, choose TWO characteristics of a branch budget.

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