(a) (i) What is an inventory record? [2 marks]
(ii) State the four steps involved in the process of taking inventory. [4 marks]
(iii) State two ways in which inventory record is important in farm business [2 marks]
(b) Mention four objectives of agricultural extension. [4 marks]
(c) Explain the following agricultural extension teaching methods:
(i) news bulletin;
(ii) agricultural shows. [4 Marks]
This question was not popular with the candidates. In parts 9(a)(i-iii), majority of the candidates could neither explain what an inventory record is, nor the state steps involved in the process of taking inventory and ways in which inventory record is important in farm business. However, in question 9(b), many candidates could mention objectives of agricultural extension. In parts 9(c)(i and ii), majority of the candidates were unable to explain agricultural extension teaching methods such as news bulletin and agricultural shows.
The expected answers include:
Meaning of Inventory Record
This is a record that gives a full list of assets and liabilities of a farm in both physical and monetary terms.
Steps involved in the process of taking inventory
- Identification of assets and liabilities
- Itemizing of assets and liabilities
- Physical counting of each item of assets
- Assigning monetary value to each asset.
Ways in which inventory record is important in farm business
- Helps in periodical checking of the movement of farm tools and equipment
- Helps in identifying damaged tools and equipment
- Provides data for the preparation of Balance Sheet of a farm
- Helps in the assessment of the Net-worth of a farm
- Assists in farm planning and budgeting
- Assists in farm evaluation.
Explanation of Agricultural Extension teaching methods
- Bulletins are official statement of news or official announcement sent out to many persons by an extension agent/authority
- Bulletins serve to teach farmers/remind them of special meetings and may
be used by them as reference materials.
For showcasing successful farmer’s farms and displaying improved agricultural inputs, implements and machinery to farmers on a day set aside for that purpose
- They are held in villages, towns and cities and have a nationwide
- During such shows, selected farmers, input suppliers and other
stakeholders in agriculture display their produce and products for
recognition and award
- Very often processed food are also exhibited
- It is characterized by festive moods, speeches, addresses and awards.