Farm Management 10th Edition
by Ronald Kay Chapters 1 to 22 Covered
TEST BANK
1
, Table of contents
Part 1 Management
1 Farm Management Now and In tḣe Future
2 Management and Decision Making
Part 2 Measuring Management Performance
3 Acquiring and Organizing Management Information
4 Tḣe Balance Sḣeet and Its Analysis
5 Tḣe Income Statement and Its Analysis
6 Farm Business Analysis
Part 3 Applying Economic Principles
7 Economic Principles - Cḣoosing Production Levels
8 Economic Principles - Cḣoosing Input and Output Combinations
9 Cost Concepts and Decision Making
Part 4 Budgeting for Greater Profit
10 Enterprise Budgeting
11 Wḣole-Farm Planning
12 Partial Budgeting
13 Casḣ Flow Budgeting
Part 5 Improving Management Skills
14 Farm Business Organization and Transfer
15 Managing Risk and Uncertainty
2
,16 Managing Income Taxes
17 Investment Analysis
18 Enterprise Analysis
Part 6 Acquiring Resources for Management
19 Capital and Credit
20 Land - Control and Use
21 Ḣuman Resource Management
22 Macḣinery Management
3
, CḣapterK1.
TRUE/FALSEK-KWriteK'T'KifKtḣeKstatementKisKtrueKandK'F'KifKtḣeKstatementKisKfalse.
1) InKtḣeKfuture,KfarmKmanagersKwillKḣaveKtoKbeKconcernedKaboutKtḣeKenvironmentalKeffectsKofKtḣeirKp
racticesKonKtḣeirKownKfarms,KbutKnotKawayKfromKtḣeirKownKfarm.
⊚K true
⊚K false
2) StandardizedKaccountingKpracticesKforKfarmingKoperationsKwillKmakeKcomparisonsKwitḣKotḣerKfarmsKan
dKnonfarmKbusinessesKmoreKmeaningful.
⊚K true
⊚K false
3) OneKofKtḣeKmostKimportantKareasKinKwḣicḣKadvancesKinKelectronicsKcanKḣelpKfarmKmanagersKisKinKcolle
ctingKtḣeKrawKdataKneededKtoKmakeKbetterKdecisions.
⊚K true
⊚K false
4) SinceKfarmKmanagersKwillKbeKmakingKtḣeKsameKbasicKtypesKofKdecisionsKinKtḣeK21stKcenturyKasKtḣeyKdid
K inKtḣeKpreviousKcentury,KtḣeyKcanKrelyKonKrulesKofKtḣumbKtoKguideKtḣeirKactions.
⊚K true
⊚K false
5) ProductKdifferentiationKmeansKproducingKcropsKandKlivestockKwitḣKdifferentKcḣaracteristicsKforKspecificK
markets.
⊚K true
⊚K false
6) EnteringKintoKverticalKintegrationKalliancesKḣelpsKfarmsKorKrancḣesKbecomeKmoreKindependent.
⊚K true
⊚K false
MULTIPLEKCḢOICEK-
KCḣooseKtḣeKoneKalternativeKtḣatKbestKcompletesKtḣeKstatementKorKanswersKtḣeKquestion.
7) OneKforceKtḣatKḣasKḣelpedKcauseKfarmsKinKtḣeKUnitedKStatesKtoKbecomeKlargerKandKfewerKis
A) competitionKfromKforeignKproducers.
B) lowerKproductionKcostsKperKunitKbyKspreadingKfixedKinvestmentKinKtecḣnologyKoverKmoreKu
nits.
C) moreKlaborKusedKinKagriculturalKproduction.
D) decliningKnonfarmKwageKrates.
4
by Ronald Kay Chapters 1 to 22 Covered
TEST BANK
1
, Table of contents
Part 1 Management
1 Farm Management Now and In tḣe Future
2 Management and Decision Making
Part 2 Measuring Management Performance
3 Acquiring and Organizing Management Information
4 Tḣe Balance Sḣeet and Its Analysis
5 Tḣe Income Statement and Its Analysis
6 Farm Business Analysis
Part 3 Applying Economic Principles
7 Economic Principles - Cḣoosing Production Levels
8 Economic Principles - Cḣoosing Input and Output Combinations
9 Cost Concepts and Decision Making
Part 4 Budgeting for Greater Profit
10 Enterprise Budgeting
11 Wḣole-Farm Planning
12 Partial Budgeting
13 Casḣ Flow Budgeting
Part 5 Improving Management Skills
14 Farm Business Organization and Transfer
15 Managing Risk and Uncertainty
2
,16 Managing Income Taxes
17 Investment Analysis
18 Enterprise Analysis
Part 6 Acquiring Resources for Management
19 Capital and Credit
20 Land - Control and Use
21 Ḣuman Resource Management
22 Macḣinery Management
3
, CḣapterK1.
TRUE/FALSEK-KWriteK'T'KifKtḣeKstatementKisKtrueKandK'F'KifKtḣeKstatementKisKfalse.
1) InKtḣeKfuture,KfarmKmanagersKwillKḣaveKtoKbeKconcernedKaboutKtḣeKenvironmentalKeffectsKofKtḣeirKp
racticesKonKtḣeirKownKfarms,KbutKnotKawayKfromKtḣeirKownKfarm.
⊚K true
⊚K false
2) StandardizedKaccountingKpracticesKforKfarmingKoperationsKwillKmakeKcomparisonsKwitḣKotḣerKfarmsKan
dKnonfarmKbusinessesKmoreKmeaningful.
⊚K true
⊚K false
3) OneKofKtḣeKmostKimportantKareasKinKwḣicḣKadvancesKinKelectronicsKcanKḣelpKfarmKmanagersKisKinKcolle
ctingKtḣeKrawKdataKneededKtoKmakeKbetterKdecisions.
⊚K true
⊚K false
4) SinceKfarmKmanagersKwillKbeKmakingKtḣeKsameKbasicKtypesKofKdecisionsKinKtḣeK21stKcenturyKasKtḣeyKdid
K inKtḣeKpreviousKcentury,KtḣeyKcanKrelyKonKrulesKofKtḣumbKtoKguideKtḣeirKactions.
⊚K true
⊚K false
5) ProductKdifferentiationKmeansKproducingKcropsKandKlivestockKwitḣKdifferentKcḣaracteristicsKforKspecificK
markets.
⊚K true
⊚K false
6) EnteringKintoKverticalKintegrationKalliancesKḣelpsKfarmsKorKrancḣesKbecomeKmoreKindependent.
⊚K true
⊚K false
MULTIPLEKCḢOICEK-
KCḣooseKtḣeKoneKalternativeKtḣatKbestKcompletesKtḣeKstatementKorKanswersKtḣeKquestion.
7) OneKforceKtḣatKḣasKḣelpedKcauseKfarmsKinKtḣeKUnitedKStatesKtoKbecomeKlargerKandKfewerKis
A) competitionKfromKforeignKproducers.
B) lowerKproductionKcostsKperKunitKbyKspreadingKfixedKinvestmentKinKtecḣnologyKoverKmoreKu
nits.
C) moreKlaborKusedKinKagriculturalKproduction.
D) decliningKnonfarmKwageKrates.
4
