Module 10A: Managing Woodlot Finances: Planning and Investment Guide

Results

This person got 9 of 10 possible points.
Total score: 90 %

Question Results

Score 1 of 1

Question:

A woodlot management plan and a financial plan will guide you in the successful management of your woodlot.

Response:

True

False

Score 1 of 1

Question:

Two types of records woodlot owners should keep are general records and financial records.

Response:

True

False

Score 0 of 1

Question:

Financial records should include general information on your woodlot including the property deed, certificate of title and survey map.

Response:

True

False

Score 1 of 1

Question:

Financial records are used to determine net income for taxation purposes and to help you manage your woodlot successfully.

Response:

True

False

Score 1 of 1

Question:

A simple system of financial record keeping will keep track of revenues and expenses.

Response:

True

False

Score 1 of 1

Question:

If you have acquired your woodlot as a hobby rather than as a business, it is recommended that you not prepare a business plan.

Response:

True

False

Score 1 of 1

Question:

Financial goals should be broad and flexible in order to allow for events that cannot be forecasted.

Response:

True

False

Score 1 of 1

Question:

Developing a business plan begins with.

Response:

strategic planning

market assessment

developing operational plans

all of the above

Score 1 of 1

Question:

One year and five year operating plans are usually developed from.

Response:

woodlot management plan

a woodlot management plan, strategies, goals and market analysis

financial goals

all of the above

Score 1 of 1

Question:

After you develop a five year budget, you will be able to determine.

Response:

if your financial plans conflict with resource management goals

profitability of activities

a feeling for cash flow, although a cash flow forecast may be better

all of the above