SAE Terminology

What does "Annual review" refer to in the context of SAEs?

• Inventory on-hand January 1

• Description of annual progress on SAEs

• Money paid by SAE

• Percent of sales related to profit

What is "Beginning inventory"?

• Inventory on-hand December 31

• Money received by SAE

• Inventory on-hand January 1

• Capital item that doesn't go down in value

What does "Cash expense" mean?

• Money received by SAE

• Money paid by SAE

• Inventory on-hand January 1

• Description of annual progress on SAEs

What is "Cash income"?

• Money received by SAE

• Money paid by SAE

• Inventory on-hand December 31

• Capital item that goes down in value over time

What does "Ending inventory" refer to?

• Inventory on-hand January 1

• Inventory on-hand December 31

• Money paid by SAE

• Percent of sales related to profit

What is a "Current capital item"?

• Crops, feed, market animals, etc. you currently own

• Capital item that goes down in value over time

• Money received by SAE

• Inventory on-hand January 1

What is a "Dam" in agricultural terms?

• Male breeding animal

• Female breeding animal

• Capital item that doesn't go down in value

• Inventory on-hand December 31

What is a "Depreciable capital item"?

• Capital item that doesn't go down in value

• Capital item that goes down in value over time

• Money paid by SAE

• Inventory on-hand January 1

What does "Gross revenue" mean?

• Change in current inventory and total sales

• Gross revenue minus expenses

• Money received by SAE

• Inventory on-hand December 31

What is "Net income"?

• Gross revenue minus expenses

• Money paid by SAE

• Inventory on-hand January 1

• Capital item that doesn't go down in value