NATIONAL OPEN UNIVERSITY OF NIGERIA
14/16 AHMADU BELLO WAY, VICTORIA ISLAND, LAGOS
SCHOOL OF SCIENCE AND TECHNOLOGY
MARCH/APRIL 2014 EXAMINATION
COURSE CODE: AEM 753
COURSE TITLE: FARM MANAGEMENT
TIME ALLOWED: 2 ½ HOURS
INSTRUCTION: ANSWER ONLY 4 QUESTIONS
1. a. When is a farm said to be solvent?
b. What are the indicators of farm solvency?
c. Define each of these indicators.
2. a. Outline the advantages of keeping farm records.
b. What are the basic informations required for farm records?
c. State the characteristics a good farm manager.
3. a. i. What is efficiency in a farm enterprise?
ii. What are the measures of efficiency of a farm?
b. Mention the decision rules and strategies to deal with risk and uncertainties in a farm enterprise.
c. Outline the tips for making profit in a livestock enterprise.
4. a. What are the characteristics of farm land?
b. As a professional, what advice would you offer a farmer when land is limited in supply, in order to enhance its productivity?
c. In what ways can the gross margin per man-hour of labour be increased?
d. Identify five measures generally used by Nigeria small scale farmers to reduce risk.
5. a. Explain the steps involved in problem solving approach in farm management.
b. Differentiate between budgeting and farm budget.
c. What are the methods of gathering farm data?
d. i. Define valuation
ii. What are the various methods of valuation?
6.a. Name the two steps involved in taken a farm inventory
b. Define farm liability.
c. Mention the classes of liabilities. Give one give example each.
d.. i. In what ways are the financial success and capital position of a farm measured?
For the 2015 – till date past questions for this course CLICK HERE
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