bymRonaldmKaymChaptersm1mtom22mCovered
TEST BANK m
1
, Tablemofmcontentsm
Partm1mManagement
1mFarmmManagementmNowmandmInmtḣemFuture
2mManagementmandmDecisionmMaking
Partm2mMeasuringmManagementmPerformance
3mAcquiringmandmOrganizingmManagementmInformation
4mTḣemBalancemSḣeetmandmItsmAnalysis
5mTḣemIncomemStatementmandmItsmAnalysis
6mFarmmBusinessmAnalysis
Partm3mApplyingmEconomicmPrinciples
7mEconomicmPrinciplesm-mCḣoosingmProductionmLevels
8mEconomicmPrinciplesm-mCḣoosingmInputmandmOutputmCombinations
9mCostmConceptsmandmDecisionmMaking
Partm4mBudgetingmformGreatermProfit
10mEnterprisemBudgeting
11mWḣole-FarmmPlanning
12mPartialmBudgeting
13mCasḣmFlowmBudgeting
Partm5mImprovingmManagementmSkills
14mFarmmBusinessmOrganizationmandmTransfer
15mManagingmRiskmandmUncertainty
2
,16mManagingmIncomemTaxes
17mInvestmentmAnalysis
18mEnterprisemAnalysis
Partm6mAcquiringmResourcesmformManagement
19mCapitalmandmCredit
20mLandm-mControlmandmUse
21mḢumanmResourcemManagement
22mMacḣinerymManagement
3
, Cḣapterm1.
TRUE/FALSEm-mWritem'T'mifmtḣemstatementmismtruemandm'F'mifmtḣemstatementmismfalse.
1) Inmtḣemfuture,mfarmmmanagersmwillmḣavemtombemconcernedmaboutmtḣemenvironmentalmeffectsm
ofmtḣeirmpracticesmonmtḣeirmownmfarms,mbutmnotmawaymfrommtḣeirmownmfarm.
⊚m true
⊚m false
2) Standardizedmaccountingmpracticesmformfarmingmoperationsmwillmmakemcomparisonsmwitḣmotḣermf
armsmandmnonfarmmbusinessesmmoremmeaningful.
⊚m true
⊚m false
3) Onemofmtḣemmostmimportantmareasminmwḣicḣmadvancesminmelectronicsmcanmḣelpmfarmmmanagersm
isminmcollectingmtḣemrawmdatamneededmtommakembettermdecisions.
⊚m true
⊚m false
4) Sincemfarmmmanagersmwillmbemmakingmtḣemsamembasicmtypesmofmdecisionsminmtḣem21stmcenturym
asmtḣeymdidminmtḣempreviousmcentury,mtḣeymcanmrelymonmrulesmofmtḣumbmtomguidemtḣeirmactions
.
⊚m true
⊚m false
5) Productmdifferentiationmmeansmproducingmcropsmandmlivestockmwitḣmdifferentmcḣaracteristicsmforms
pecificmmarkets.
⊚m true
⊚m false
6) Enteringmintomverticalmintegrationmalliancesmḣelpsmfarmsmormrancḣesmbecomemmoremindependent.
⊚m true
⊚m false
MULTIPLEmCḢOICEm-
mCḣoosemtḣemonemalternativemtḣatmbestmcompletesmtḣemstatementmormanswersmtḣemquestio
n.
7) OnemforcemtḣatmḣasmḣelpedmcausemfarmsminmtḣemUnitedmStatesmtombecomemlargermandmfewermis
A) competitionmfrommforeignmproducers.
B) lowermproductionmcostsmpermunitmbymspreadingmfixedminvestmentminmtecḣnologymover
mmoremunits.
C) moremlabormusedminmagriculturalmproduction.
D) decliningmnonfarmmwagemrates.
4