TEST BANK for Farm Management 10thEditi
u u u u u u
on by Ronald Kay
u u u
Complete Chapters 1-
u u
22 With Expert Verified Q&As| A+ PASSAll Answers at the Back
u u u u u u u u u u u
uof Each Chapter
u u
Pageu|u1
, Chapteru1.
TRUE/FALSEu-uWriteu'T'uifutheustatementuisutrueuandu'F'uifutheustatementuisufalse.
1) Inutheufuture,ufarmumanagersuwilluhaveutoubeuconcerneduaboututheuenvironmentalueffectsuofutheiru
practicesuonutheiruownufarms,ubutunotuawayufromutheiruownufarm.
⊚u true
⊚ufalse
2) Standardizeduaccountingupracticesuforufarminguoperationsuwillumakeucomparisonsuwithuotherufarmsuandu
nonfarmubusinessesumoreumeaningful.
⊚u true
⊚ufalse
3) Oneuofutheumostuimportantuareasuinuwhichuadvancesuinuelectronicsucanuhelpufarmumanagersuisuinuc
ollectingutheurawudatauneededutoumakeubetterudecisions.
⊚u true
⊚ufalse
4) Sinceufarmumanagersuwillubeumakingutheusameubasicutypesuofudecisionsuinutheu21stucenturyuasutheyudiduinut
heupreviousucentury,utheyucanurelyuonurulesuofuthumbutouguideutheiruactions.
⊚u true
⊚ufalse
5) Productudifferentiationumeansuproducingucropsuandulivestockuwithudifferentucharacteristicsuforuspecificu
markets.
⊚u true
⊚ufalse
Pageu|u2
,6) Enteringuintouverticaluintegrationualliancesuhelpsufarmsuoruranchesubecomeumoreuindependent.
⊚u true
⊚ufalse
MULTIPLEuCHOICEu-
uChooseutheuoneualternativeuthatubestucompletesutheustatementuoruanswersu
theuquestion.
7) OneuforceuthatuhasuhelpeducauseufarmsuinutheuUniteduStatesutoubecomeulargeruandufeweruis
A) competitionufromuforeignuproducers.
B) loweruproductionucostsuperuunitubyuspreadingufixeduinvestmentuinutechnologyuoverumoreuunits.
C) moreulaboruuseduinuagriculturaluproduction.
D) decliningunonfarmuwageurates.
8) Improvedudataucollectionutechnologyusuchuasusatelliteuorudrone-
baseduphotographyuwillubeumostuhelpfulutoufarmumanagersufor
A) preparinguup-to-dateufinancialustatements.
B) balancingulivestockurations.
C) prescribingufertilityuandupestucontrolupracticesuforusmallerulanduunits.
D) producingumoreuuniformuproducts.
9) Standardizationuofufarmufinancialuratiosuanduaccountingupracticesuwilluhelpufarmumanagers
A) competeuwithunonfarmubusinessesuforucapital.
B) summarizeutheiruaccountubooksuinulessutime.
C) payulessuincomeutax.
D) manageuhireduemployeesumoreueffectively.
10) Agriculturaluprocessorsuwilluprobablyuwantumoreuuniformuproductsuinutheufutureuinuorderuto
A) payulowerupricesutouproducers.
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, B) diversifyutheiruproductulines.
C) reduceuenvironmentalucontamination.
D) makeumoreuefficientuuseuofuprocessinguandupackaginguequipment.
11) Byuformingustrategicualliances,usmalluandumedium-sizedufarmersuanduranchersucan
A) increaseutheirumanagerialufreedom.
B) achieveuadvantagesuofudiversification.
C) achieveumarketinguadvantagesuthatulargeruoperationsuenjoy.
D) increaseutheiruownuvolumeuofuproduction.
12) Anuincreaseuinutheunumberuofunonfarmersulivinguinururaluareasuwillucause
A) farmlanduvaluesutoudecrease.
B) farmersutoupayumoreuattentionutouoff-farmueffectsuofutheiruproductionupractices.
C) lessuregulationuofuagriculturaluproductionupractices.
D) profitumaximizationutoubeutheuonlyucriterionuforuadoptingunewutechnologies.
13) Globalizationurefersutoutheuprocessuof
A) reducingutradeubarriersuamongucountries.
B) protectinguaucountry’sufarmersubyutaxingucompetinguproductsufromuotherucountries.
C) augradualuriseuinutheuaverageutemperatureuofutheuearth.
D) countriesuproducinguaugreateruvarietyuofuagriculturaluproductsuforutheiruownuneeds.
14) Verticaluintegrationurefersutoutheuprocessubyuwhichufarmersuoruranchers
A) growutallerucrops.
B) growuaugreateruvarietyuofuproducts.
C) increaseutheusizeuofutheiruoperationubyuleasinguorubuyingumoreuland.
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u u u u u u
on by Ronald Kay
u u u
Complete Chapters 1-
u u
22 With Expert Verified Q&As| A+ PASSAll Answers at the Back
u u u u u u u u u u u
uof Each Chapter
u u
Pageu|u1
, Chapteru1.
TRUE/FALSEu-uWriteu'T'uifutheustatementuisutrueuandu'F'uifutheustatementuisufalse.
1) Inutheufuture,ufarmumanagersuwilluhaveutoubeuconcerneduaboututheuenvironmentalueffectsuofutheiru
practicesuonutheiruownufarms,ubutunotuawayufromutheiruownufarm.
⊚u true
⊚ufalse
2) Standardizeduaccountingupracticesuforufarminguoperationsuwillumakeucomparisonsuwithuotherufarmsuandu
nonfarmubusinessesumoreumeaningful.
⊚u true
⊚ufalse
3) Oneuofutheumostuimportantuareasuinuwhichuadvancesuinuelectronicsucanuhelpufarmumanagersuisuinuc
ollectingutheurawudatauneededutoumakeubetterudecisions.
⊚u true
⊚ufalse
4) Sinceufarmumanagersuwillubeumakingutheusameubasicutypesuofudecisionsuinutheu21stucenturyuasutheyudiduinut
heupreviousucentury,utheyucanurelyuonurulesuofuthumbutouguideutheiruactions.
⊚u true
⊚ufalse
5) Productudifferentiationumeansuproducingucropsuandulivestockuwithudifferentucharacteristicsuforuspecificu
markets.
⊚u true
⊚ufalse
Pageu|u2
,6) Enteringuintouverticaluintegrationualliancesuhelpsufarmsuoruranchesubecomeumoreuindependent.
⊚u true
⊚ufalse
MULTIPLEuCHOICEu-
uChooseutheuoneualternativeuthatubestucompletesutheustatementuoruanswersu
theuquestion.
7) OneuforceuthatuhasuhelpeducauseufarmsuinutheuUniteduStatesutoubecomeulargeruandufeweruis
A) competitionufromuforeignuproducers.
B) loweruproductionucostsuperuunitubyuspreadingufixeduinvestmentuinutechnologyuoverumoreuunits.
C) moreulaboruuseduinuagriculturaluproduction.
D) decliningunonfarmuwageurates.
8) Improvedudataucollectionutechnologyusuchuasusatelliteuorudrone-
baseduphotographyuwillubeumostuhelpfulutoufarmumanagersufor
A) preparinguup-to-dateufinancialustatements.
B) balancingulivestockurations.
C) prescribingufertilityuandupestucontrolupracticesuforusmallerulanduunits.
D) producingumoreuuniformuproducts.
9) Standardizationuofufarmufinancialuratiosuanduaccountingupracticesuwilluhelpufarmumanagers
A) competeuwithunonfarmubusinessesuforucapital.
B) summarizeutheiruaccountubooksuinulessutime.
C) payulessuincomeutax.
D) manageuhireduemployeesumoreueffectively.
10) Agriculturaluprocessorsuwilluprobablyuwantumoreuuniformuproductsuinutheufutureuinuorderuto
A) payulowerupricesutouproducers.
Pageu|u3
, B) diversifyutheiruproductulines.
C) reduceuenvironmentalucontamination.
D) makeumoreuefficientuuseuofuprocessinguandupackaginguequipment.
11) Byuformingustrategicualliances,usmalluandumedium-sizedufarmersuanduranchersucan
A) increaseutheirumanagerialufreedom.
B) achieveuadvantagesuofudiversification.
C) achieveumarketinguadvantagesuthatulargeruoperationsuenjoy.
D) increaseutheiruownuvolumeuofuproduction.
12) Anuincreaseuinutheunumberuofunonfarmersulivinguinururaluareasuwillucause
A) farmlanduvaluesutoudecrease.
B) farmersutoupayumoreuattentionutouoff-farmueffectsuofutheiruproductionupractices.
C) lessuregulationuofuagriculturaluproductionupractices.
D) profitumaximizationutoubeutheuonlyucriterionuforuadoptingunewutechnologies.
13) Globalizationurefersutoutheuprocessuof
A) reducingutradeubarriersuamongucountries.
B) protectinguaucountry’sufarmersubyutaxingucompetinguproductsufromuotherucountries.
C) augradualuriseuinutheuaverageutemperatureuofutheuearth.
D) countriesuproducinguaugreateruvarietyuofuagriculturaluproductsuforutheiruownuneeds.
14) Verticaluintegrationurefersutoutheuprocessubyuwhichufarmersuoruranchers
A) growutallerucrops.
B) growuaugreateruvarietyuofuproducts.
C) increaseutheusizeuofutheiruoperationubyuleasinguorubuyingumoreuland.
Pageu|u4
