Tutor profile: Tori B.
In a class of 20 kindergarteners, 12 of the students wore a red jacket. What percentage of students wore a red jacket?
12 out of 20 students wore a red jacket = 12/20 = 0.6 To create a percentage, we must move the decimal place to the right two times = 60%
Subject: Agricultural Economics
What are some examples of risks within the agricultural markets, and what is a strategy that could be used to mitigate that risk?
Anybody involved in agriculture knows the RISK that's involved, regardless if you're a grain, livestock, or specialty crop farmer. The first and foremost risk in agriculture is weather. The temperatures and environment have to be within a certain threshold in order to produce a favorable crop, which goes to feeding our human and animal population. On top of the weather risk, if one year produces a bad crop, it could easily bankrupt an operation or cause them to lend money from a bank to get by. One of the most important risk management tools that all agricultural companies should have is INSURANCE.
What are the three main financial statements, and what are each of their purposes?
The three most commonly used financial statements are: - Balance Sheet: Shows what an individual or company OWNS (assets) vs. what they OWE (liabilities), which provides the amount of what the borrower is worth (equity). - Income Statement: Shows INCOME and EXPENSES for the given fiscal year. Will result in the amount of net profit. - Statement of Cash Flows: Shows the amount of CASH used throughout the given fiscal period through three different types of activities- operating, investing, and financing. If you have any additional questions regarding any part of this answer, I would love to take the time to clarify!