TEST BANK for Farm Management 10th Edit
k k k k k k
ion by Ronald Kay
k k k
Complete Chapters 1-
k k
22 With Expert Verified Q&As| A+ PASS All Answers at the Bac
k k k k k k k k k k k
k of Each Chapter
k k k
Pagek|k1
, Chapterk1.
TRUE/FALSEk-kWritek'T'kifkthekstatementkisktruekandk'F'kifkthekstatementkiskfalse.
1) Inkthekfuture,kfarmkmanagerskwillkhavektokbekconcernedkaboutkthekenvironmentalkeffectskofkth
eirkpracticeskonktheirkownkfarms,kbutknotkawaykfromktheirkownkfarm.
⊚ktrue
⊚kfalse
2) Standardizedkaccountingkpracticeskforkfarmingkoperationskwillkmakekcomparisonskwithkotherkfarmska
ndknonfarmkbusinesseskmorekmeaningful.
⊚ktrue
⊚kfalse
3) Onekofkthekmostkimportantkareaskinkwhichkadvanceskinkelectronicskcankhelpkfarmkmanagerskis
kinkcollectingkthekrawkdatakneededktokmakekbetterkdecisions.
⊚ktrue
⊚kfalse
4) Sincekfarmkmanagerskwillkbekmakingktheksamekbasicktypeskofkdecisionskinkthek21stkcenturykasktheykdid
kinkthekpreviouskcentury,ktheykcankrelykonkruleskofkthumbktokguidektheirkactions.
⊚ktrue
⊚kfalse
5) Productkdifferentiationkmeanskproducingkcropskandklivestockkwithkdifferentkcharacteristicskforkspecif
ickmarkets.
⊚ktrue
⊚kfalse
Pagek|k2
,6) Enteringkintokverticalkintegrationkallianceskhelpskfarmskorkrancheskbecomekmorekindependent.
⊚ktrue
⊚kfalse
MULTIPLEkCHOICEk-
kChoosekthekonekalternativekthatkbestkcompleteskthekstatementkorkanswerskthekquestion.
7) OnekforcekthatkhaskhelpedkcausekfarmskinkthekUnitedkStatesktokbecomeklargerkandkfewerkis
A) competitionkfromkforeignkproducers.
B) lowerkproductionkcostskperkunitkbykspreadingkfixedkinvestmentkinktechnologykoverkmorekunits.
C) moreklaborkusedkinkagriculturalkproduction.
D) decliningknonfarmkwagekrates.
8) Improvedkdatakcollectionktechnologyksuchkasksatellitekorkdrone-
basedkphotographykwillkbekmostkhelpfulktokfarmkmanagerskfor
A) preparingkup-to-datekfinancialkstatements.
B) balancingklivestockkrations.
C) prescribingkfertilitykandkpestkcontrolkpracticeskforksmallerklandkunits.
D) producingkmorekuniformkproducts.
9) Standardizationkofkfarmkfinancialkratioskandkaccountingkpracticeskwillkhelpkfarmkmanagers
A) competekwithknonfarmkbusinesseskforkcapital.
B) summarizektheirkaccountkbookskinklessktime.
C) payklesskincomektax.
D) managekhiredkemployeeskmorekeffectively.
10) Agriculturalkprocessorskwillkprobablykwantkmorekuniformkproductskinkthekfuturekinkorderkto
A) payklowerkpricesktokproducers.
Pagek|k3
, B) diversifyktheirkproductklines.
C) reducekenvironmentalkcontamination.
D) makekmorekefficientkusekofkprocessingkandkpackagingkequipment.
11) Bykformingkstrategickalliances,ksmallkandkmedium-sizedkfarmerskandkrancherskcan
A) increasektheirkmanagerialkfreedom.
B) achievekadvantageskofkdiversification.
C) achievekmarketingkadvantageskthatklargerkoperationskenjoy.
D) increasektheirkownkvolumekofkproduction.
12) Ankincreasekinktheknumberkofknonfarmersklivingkinkruralkareaskwillkcause
A) farmlandkvaluesktokdecrease.
B) farmersktokpaykmorekattentionktokoff-farmkeffectskofktheirkproductionkpractices.
C) lesskregulationkofkagriculturalkproductionkpractices.
D) profitkmaximizationktokbekthekonlykcriterionkforkadoptingknewktechnologies.
13) Globalizationkrefersktokthekprocesskof
A) reducingktradekbarrierskamongkcountries.
B) protectingkakcountry’skfarmerskbyktaxingkcompetingkproductskfromkotherkcountries.
C) akgradualkrisekinkthekaveragektemperaturekofkthekearth.
D) countrieskproducingkakgreaterkvarietykofkagriculturalkproductskforktheirkownkneeds.
14) Verticalkintegrationkrefersktokthekprocesskbykwhichkfarmerskorkranchers
A) growktallerkcrops.
B) growkakgreaterkvarietykofkproducts.
C) increasektheksizekofktheirkoperationkbykleasingkorkbuyingkmorekland.
Pagek|k4
k k k k k k
ion by Ronald Kay
k k k
Complete Chapters 1-
k k
22 With Expert Verified Q&As| A+ PASS All Answers at the Bac
k k k k k k k k k k k
k of Each Chapter
k k k
Pagek|k1
, Chapterk1.
TRUE/FALSEk-kWritek'T'kifkthekstatementkisktruekandk'F'kifkthekstatementkiskfalse.
1) Inkthekfuture,kfarmkmanagerskwillkhavektokbekconcernedkaboutkthekenvironmentalkeffectskofkth
eirkpracticeskonktheirkownkfarms,kbutknotkawaykfromktheirkownkfarm.
⊚ktrue
⊚kfalse
2) Standardizedkaccountingkpracticeskforkfarmingkoperationskwillkmakekcomparisonskwithkotherkfarmska
ndknonfarmkbusinesseskmorekmeaningful.
⊚ktrue
⊚kfalse
3) Onekofkthekmostkimportantkareaskinkwhichkadvanceskinkelectronicskcankhelpkfarmkmanagerskis
kinkcollectingkthekrawkdatakneededktokmakekbetterkdecisions.
⊚ktrue
⊚kfalse
4) Sincekfarmkmanagerskwillkbekmakingktheksamekbasicktypeskofkdecisionskinkthek21stkcenturykasktheykdid
kinkthekpreviouskcentury,ktheykcankrelykonkruleskofkthumbktokguidektheirkactions.
⊚ktrue
⊚kfalse
5) Productkdifferentiationkmeanskproducingkcropskandklivestockkwithkdifferentkcharacteristicskforkspecif
ickmarkets.
⊚ktrue
⊚kfalse
Pagek|k2
,6) Enteringkintokverticalkintegrationkallianceskhelpskfarmskorkrancheskbecomekmorekindependent.
⊚ktrue
⊚kfalse
MULTIPLEkCHOICEk-
kChoosekthekonekalternativekthatkbestkcompleteskthekstatementkorkanswerskthekquestion.
7) OnekforcekthatkhaskhelpedkcausekfarmskinkthekUnitedkStatesktokbecomeklargerkandkfewerkis
A) competitionkfromkforeignkproducers.
B) lowerkproductionkcostskperkunitkbykspreadingkfixedkinvestmentkinktechnologykoverkmorekunits.
C) moreklaborkusedkinkagriculturalkproduction.
D) decliningknonfarmkwagekrates.
8) Improvedkdatakcollectionktechnologyksuchkasksatellitekorkdrone-
basedkphotographykwillkbekmostkhelpfulktokfarmkmanagerskfor
A) preparingkup-to-datekfinancialkstatements.
B) balancingklivestockkrations.
C) prescribingkfertilitykandkpestkcontrolkpracticeskforksmallerklandkunits.
D) producingkmorekuniformkproducts.
9) Standardizationkofkfarmkfinancialkratioskandkaccountingkpracticeskwillkhelpkfarmkmanagers
A) competekwithknonfarmkbusinesseskforkcapital.
B) summarizektheirkaccountkbookskinklessktime.
C) payklesskincomektax.
D) managekhiredkemployeeskmorekeffectively.
10) Agriculturalkprocessorskwillkprobablykwantkmorekuniformkproductskinkthekfuturekinkorderkto
A) payklowerkpricesktokproducers.
Pagek|k3
, B) diversifyktheirkproductklines.
C) reducekenvironmentalkcontamination.
D) makekmorekefficientkusekofkprocessingkandkpackagingkequipment.
11) Bykformingkstrategickalliances,ksmallkandkmedium-sizedkfarmerskandkrancherskcan
A) increasektheirkmanagerialkfreedom.
B) achievekadvantageskofkdiversification.
C) achievekmarketingkadvantageskthatklargerkoperationskenjoy.
D) increasektheirkownkvolumekofkproduction.
12) Ankincreasekinktheknumberkofknonfarmersklivingkinkruralkareaskwillkcause
A) farmlandkvaluesktokdecrease.
B) farmersktokpaykmorekattentionktokoff-farmkeffectskofktheirkproductionkpractices.
C) lesskregulationkofkagriculturalkproductionkpractices.
D) profitkmaximizationktokbekthekonlykcriterionkforkadoptingknewktechnologies.
13) Globalizationkrefersktokthekprocesskof
A) reducingktradekbarrierskamongkcountries.
B) protectingkakcountry’skfarmerskbyktaxingkcompetingkproductskfromkotherkcountries.
C) akgradualkrisekinkthekaveragektemperaturekofkthekearth.
D) countrieskproducingkakgreaterkvarietykofkagriculturalkproductskforktheirkownkneeds.
14) Verticalkintegrationkrefersktokthekprocesskbykwhichkfarmerskorkranchers
A) growktallerkcrops.
B) growkakgreaterkvarietykofkproducts.
C) increasektheksizekofktheirkoperationkbykleasingkorkbuyingkmorekland.
Pagek|k4
