TEST BANK for Farm Management 10th Editi
f f f f f f
on by Ronald Kay f f f
Complete Chapters 1- f f
22 With Expert Verified Q&As| A+ PASS All Answers at the Back o
f f f f f f f f f f f f
f Each Chapter
f f
Pagef|f1
, Chapterf1.
TRUE/FALSEf-fWritef'T'fiffthefstatementfisftruefandf'F'fiffthefstatementfisffalse.
1) Inftheffuture,ffarmfmanagersfwillfhaveftofbefconcernedfaboutfthefenvironmentalfeffectsfofftheirfpra
cticesfonftheirfownffarms,fbutfnotfawayffromftheirfownffarm.
⊚f true
⊚ffalse
2) Standardizedfaccountingfpracticesfforffarmingfoperationsfwillfmakefcomparisonsfwithfotherffarmsfandfno
nfarmfbusinessesfmorefmeaningful.
⊚f true
⊚ffalse
3) Onefoffthefmostfimportantfareasfinfwhichfadvancesfinfelectronicsfcanfhelpffarmfmanagersfisfinfcoll
ectingfthefrawfdatafneededftofmakefbetterfdecisions.
⊚f true
⊚ffalse
4) Sinceffarmfmanagersfwillfbefmakingfthefsamefbasicftypesfoffdecisionsfinfthef21stfcenturyfasftheyfdidfinfthefp
reviousfcentury,ftheyfcanfrelyfonfrulesfoffthumbftofguideftheirfactions.
⊚f true
⊚ffalse
5) Productfdifferentiationfmeansfproducingfcropsfandflivestockfwithfdifferentfcharacteristicsfforfspecificfm
arkets.
⊚f true
⊚ffalse
Pagef|f2
,6) Enteringfintofverticalfintegrationfalliancesfhelpsffarmsforfranchesfbecomefmorefindependent.
⊚f true
⊚ffalse
MULTIPLEfCHOICEf-
fChoosefthefonefalternativefthatfbestfcompletesfthefstatementforfanswersfthefquestion.
7) OnefforcefthatfhasfhelpedfcauseffarmsfinfthefUnitedfStatesftofbecomeflargerfandffewerfis
A) competitionffromfforeignfproducers.
B) lowerfproductionfcostsfperfunitfbyfspreadingffixedfinvestmentfinftechnologyfoverfmorefunits.
C) moreflaborfusedfinfagriculturalfproduction.
D) decliningfnonfarmfwagefrates.
8) Improvedfdatafcollectionftechnologyfsuchfasfsatelliteforfdrone-
basedfphotographyfwillfbefmostfhelpfulftoffarmfmanagersffor
A) preparingfup-to-dateffinancialfstatements.
B) balancingflivestockfrations.
C) prescribingffertilityfandfpestfcontrolfpracticesfforfsmallerflandfunits.
D) producingfmorefuniformfproducts.
9) Standardizationfofffarmffinancialfratiosfandfaccountingfpracticesfwillfhelpffarmfmanagers
A) competefwithfnonfarmfbusinessesfforfcapital.
B) summarizeftheirfaccountfbooksfinflessftime.
C) payflessfincomeftax.
D) managefhiredfemployeesfmorefeffectively.
10) Agriculturalfprocessorsfwillfprobablyfwantfmorefuniformfproductsfinftheffuturefinforderfto
A) payflowerfpricesftofproducers.
Pagef|f3
, B) diversifyftheirfproductflines.
C) reducefenvironmentalfcontamination.
D) makefmorefefficientfusefoffprocessingfandfpackagingfequipment.
11) Byfformingfstrategicfalliances,fsmallfandfmedium-sizedffarmersfandfranchersfcan
A) increaseftheirfmanagerialffreedom.
B) achievefadvantagesfoffdiversification.
C) achievefmarketingfadvantagesfthatflargerfoperationsfenjoy.
D) increaseftheirfownfvolumefoffproduction.
12) Anfincreasefinfthefnumberfoffnonfarmersflivingfinfruralfareasfwillfcause
A) farmlandfvaluesftofdecrease.
B) farmersftofpayfmorefattentionftofoff-farmfeffectsfofftheirfproductionfpractices.
C) lessfregulationfoffagriculturalfproductionfpractices.
D) profitfmaximizationftofbefthefonlyfcriterionfforfadoptingfnewftechnologies.
13) Globalizationfrefersftofthefprocessfof
A) reducingftradefbarriersfamongfcountries.
B) protectingfafcountry’sffarmersfbyftaxingfcompetingfproductsffromfotherfcountries.
C) afgradualfrisefinfthefaverageftemperaturefoffthefearth.
D) countriesfproducingfafgreaterfvarietyfoffagriculturalfproductsfforftheirfownfneeds.
14) Verticalfintegrationfrefersftofthefprocessfbyfwhichffarmersforfranchers
A) growftallerfcrops.
B) growfafgreaterfvarietyfoffproducts.
C) increasefthefsizefofftheirfoperationfbyfleasingforfbuyingfmorefland.
Pagef|f4
f f f f f f
on by Ronald Kay f f f
Complete Chapters 1- f f
22 With Expert Verified Q&As| A+ PASS All Answers at the Back o
f f f f f f f f f f f f
f Each Chapter
f f
Pagef|f1
, Chapterf1.
TRUE/FALSEf-fWritef'T'fiffthefstatementfisftruefandf'F'fiffthefstatementfisffalse.
1) Inftheffuture,ffarmfmanagersfwillfhaveftofbefconcernedfaboutfthefenvironmentalfeffectsfofftheirfpra
cticesfonftheirfownffarms,fbutfnotfawayffromftheirfownffarm.
⊚f true
⊚ffalse
2) Standardizedfaccountingfpracticesfforffarmingfoperationsfwillfmakefcomparisonsfwithfotherffarmsfandfno
nfarmfbusinessesfmorefmeaningful.
⊚f true
⊚ffalse
3) Onefoffthefmostfimportantfareasfinfwhichfadvancesfinfelectronicsfcanfhelpffarmfmanagersfisfinfcoll
ectingfthefrawfdatafneededftofmakefbetterfdecisions.
⊚f true
⊚ffalse
4) Sinceffarmfmanagersfwillfbefmakingfthefsamefbasicftypesfoffdecisionsfinfthef21stfcenturyfasftheyfdidfinfthefp
reviousfcentury,ftheyfcanfrelyfonfrulesfoffthumbftofguideftheirfactions.
⊚f true
⊚ffalse
5) Productfdifferentiationfmeansfproducingfcropsfandflivestockfwithfdifferentfcharacteristicsfforfspecificfm
arkets.
⊚f true
⊚ffalse
Pagef|f2
,6) Enteringfintofverticalfintegrationfalliancesfhelpsffarmsforfranchesfbecomefmorefindependent.
⊚f true
⊚ffalse
MULTIPLEfCHOICEf-
fChoosefthefonefalternativefthatfbestfcompletesfthefstatementforfanswersfthefquestion.
7) OnefforcefthatfhasfhelpedfcauseffarmsfinfthefUnitedfStatesftofbecomeflargerfandffewerfis
A) competitionffromfforeignfproducers.
B) lowerfproductionfcostsfperfunitfbyfspreadingffixedfinvestmentfinftechnologyfoverfmorefunits.
C) moreflaborfusedfinfagriculturalfproduction.
D) decliningfnonfarmfwagefrates.
8) Improvedfdatafcollectionftechnologyfsuchfasfsatelliteforfdrone-
basedfphotographyfwillfbefmostfhelpfulftoffarmfmanagersffor
A) preparingfup-to-dateffinancialfstatements.
B) balancingflivestockfrations.
C) prescribingffertilityfandfpestfcontrolfpracticesfforfsmallerflandfunits.
D) producingfmorefuniformfproducts.
9) Standardizationfofffarmffinancialfratiosfandfaccountingfpracticesfwillfhelpffarmfmanagers
A) competefwithfnonfarmfbusinessesfforfcapital.
B) summarizeftheirfaccountfbooksfinflessftime.
C) payflessfincomeftax.
D) managefhiredfemployeesfmorefeffectively.
10) Agriculturalfprocessorsfwillfprobablyfwantfmorefuniformfproductsfinftheffuturefinforderfto
A) payflowerfpricesftofproducers.
Pagef|f3
, B) diversifyftheirfproductflines.
C) reducefenvironmentalfcontamination.
D) makefmorefefficientfusefoffprocessingfandfpackagingfequipment.
11) Byfformingfstrategicfalliances,fsmallfandfmedium-sizedffarmersfandfranchersfcan
A) increaseftheirfmanagerialffreedom.
B) achievefadvantagesfoffdiversification.
C) achievefmarketingfadvantagesfthatflargerfoperationsfenjoy.
D) increaseftheirfownfvolumefoffproduction.
12) Anfincreasefinfthefnumberfoffnonfarmersflivingfinfruralfareasfwillfcause
A) farmlandfvaluesftofdecrease.
B) farmersftofpayfmorefattentionftofoff-farmfeffectsfofftheirfproductionfpractices.
C) lessfregulationfoffagriculturalfproductionfpractices.
D) profitfmaximizationftofbefthefonlyfcriterionfforfadoptingfnewftechnologies.
13) Globalizationfrefersftofthefprocessfof
A) reducingftradefbarriersfamongfcountries.
B) protectingfafcountry’sffarmersfbyftaxingfcompetingfproductsffromfotherfcountries.
C) afgradualfrisefinfthefaverageftemperaturefoffthefearth.
D) countriesfproducingfafgreaterfvarietyfoffagriculturalfproductsfforftheirfownfneeds.
14) Verticalfintegrationfrefersftofthefprocessfbyfwhichffarmersforfranchers
A) growftallerfcrops.
B) growfafgreaterfvarietyfoffproducts.
C) increasefthefsizefofftheirfoperationfbyfleasingforfbuyingfmorefland.
Pagef|f4
