When comparing several long-range whole-farm budgets with different quantities of major fixed resources such as owned land or permanent labor, the prices used to estimate gross income should be: a. expected average prices over the next several years b. prices expected when this years crops sell c. average prices from the previous year d. current prices on the date the budget is made 8. When preparing a cash flow budget it is important to a. take account the timing of cash inflows and outflows b. include all noncash expenses c. include only noncash revenues d. omit family living expenses and other personal withdrawals 9. The main advantage of a market-basis balance sheet is... a. It more accurately indicates the current financial condition of the business b. It values assets using the cost-less-depreciation (farm-production) cost methods c. It more accurately values the collateral available to secure loans d. All of the above e. A and B only