NATIONAL OPEN UNIVERSITY OF NIGERIA AEM 753 FARM MANAGEMENT
14/16, Ahmadu Bello Way, Victoria Island
SCHOOL OF SCIENCE AND TECHNOLOGY October, 2013 Examination
Course Code: AEM 753
Course Title: FARM MANAGEMENT
INSTRUCTION: ANSWER ONLY 4 QUESTIONS TIME: 2 ½ HOURS
- 1. a. What is farm management?
- b. State the advantages of keeping farm record
- What are the basic in formations needed for farm records?
- d. State the characteristics a good farm manage
- 2. a. i. What is efficiency?
- What are the measures of efficiency of a farm?
- b. Mention the decision rules and strategies to deal with risk and uncertainti c. Mention the uses of Resources.
- d. Outline the tips for making profit in a livestock enterp
- 3. a. What are the characteristics of farm land?
- b. As a professional, what advice would you offer to a farmer when land is limited in supply, in order to enhance his productivity?
- In what ways can the gross margin per man-hour be increased?
- d. Identify five measures generally used by Nigeria small scale farmers to reduce
- 4. a. i. What are resources?
- Name the different types of resources.
iii. Why do we manage resources?
- b. Mention the steps in problem solving approach in farm management. c. Differentiate between budgeting and farm budget.
- 5. a. What are the methods of gathering farm data?
- b. i. Define valuation
- What are the various methods of valuation?
- Name the two steps involved in taken a farm inventory d. Define farm liability.
- e. Mention the classes of liabilities, giving examples.
- 6. What is net worth statement?
- b. i. What are the measures of financial success and capital position of a farm?
- Define each of these measures. c. When is a farm said to be solvent?
- d. What are the indicators of solvency?
- e. Define each of these three indicato