Farmer Cooperative Quiz

36 Questions | Total Attempts: 277

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Farmer Cooperative Quiz

This will test your Knowledge on the 'Exploring Farmer' Cooperative Booklet.


Questions and Answers
  • 1. 
    The American private enterprise system is based on freedom?
    • A. 

      True

    • B. 

      False

  • 2. 
    The Philadelphia Contributionship for the Insurance of Houses was a loss due to earthquakes?
    • A. 

      True

    • B. 

      False

  • 3. 
    In 1933, the Agricultural Marketing Act was amended?
    • A. 

      True

    • B. 

      False

  • 4. 
    What is Not the factors involved in a capital involving fund?
    • A. 

      The volume market

    • B. 

      Reduced farm production costs

    • C. 

      The total amount of capital required

    • D. 

      The length of the cycle

  • 5. 
    The earliest forms of the cooperative business structure can be traced back to ancient Rome around the 3000 B.C.
    • A. 

      True

    • B. 

      False

  • 6. 
    "Statute" is an enactment made by a legislature and expresses in a formal document, law, act or ordinance
    • A. 

      True

    • B. 

      False

  • 7. 
    All business need _________ for operations, growth and expansion.
    • A. 

      Utility

    • B. 

      Pooling

    • C. 

      Capital

    • D. 

      Agent

  • 8. 
    Non-patronage income is generated by business activity which directly serves the members.
    • A. 

      True

    • B. 

      False

  • 9. 
    What is Business Activities?
    • A. 

      Open memberships

    • B. 

      The amount withheld per unit

    • C. 

      Marketing

    • D. 

      Higher, value-added returns from the crops

    • E. 

      None of the above

  • 10. 
    The year when National Council of Farmer Cooperative was organized?
    • A. 

      1989

    • B. 

      1919

    • C. 

      1867

    • D. 

      1987

    • E. 

      None of the above

  • 11. 
    Cost of borrowed money?
    • A. 

      Liability

    • B. 

      Audit

    • C. 

      Interest

    • D. 

      Monopoly

    • E. 

      None of the above

  • 12. 
    One very important factor that drives the American private enterprise system is competition.
    • A. 

      True

    • B. 

      False

  • 13. 
    Capital is money that is invested to produce a product or provide a service.
    • A. 

      True

    • B. 

      False

  • 14. 
    What is one of the Disadvantages of the Individually owned?
    • A. 

      The individual enterprise is not flexible method of doing business.

    • B. 

      Allows a small number of people to combine their personal capital.

    • C. 

      Earnings are taxed twice.

    • D. 

      For a small individual to begin an enterprise if it requires a large amount of capital.

    • E. 

      All of the above

  • 15. 
    What is that one way that farmers can increase their net farm income?
    • A. 

      Reduced farm production costs

    • B. 

      Increase farm production costs

    • C. 

      Hiring product designs

    • D. 

      Lay-off the workers

  • 16. 
    What are the four basic functions of cooperatives?
    • A. 

      Production of basic commodities, marketing, service and processing

    • B. 

      Mixed, bargaining, marketing and supply

    • C. 

      Marketing, bargaining, supply and service

    • D. 

      Manufacturing, supply, calling and speeding

    • E. 

      None of the above

  • 17. 
    The largest service cooperative is Not the Farm Credit System
    • A. 

      True

    • B. 

      False

  • 18. 
    The first board of directors is usually elected from the _________ members
    • A. 

      State

    • B. 

      Federal

    • C. 

      Charter

    • D. 

      National

  • 19. 
    Members benefit by sharing the earnings from business conducted on a cooperative basis
    • A. 

      True

    • B. 

      False

  • 20. 
    What are the short-term needs in Equity capital?
    • A. 

      Cooperative members must give money to all homeless people

    • B. 

      By working capital used for operating expenses and inventory financing

    • C. 

      To be controlled by the federal government

    • D. 

      None of the above

  • 21. 
    All cooperatives members are entitled to receive a monthly financial accounting of their cooperative's operation and performance.
    • A. 

      True

    • B. 

      False

  • 22. 
    What is Depreciation?
    • A. 

      A decrease in value of something over a period of time because of use or age

    • B. 

      The increase in value of something over a period of time because of age or use

    • C. 

      Total sales of product without adjustment for returned goods, cost-of-doing business etc.

    • D. 

      Cost of borrowed money

    • E. 

      None of the above

  • 23. 
    The private business system can time suffer from economic ills, such as:
    • A. 

      Inflation and unemployment

    • B. 

      Over-production and monopoly

    • C. 

      Depression and underproduction

    • D. 

      None of the above

    • E. 

      All of the above

  • 24. 
    What is the most common and the easiest type of ownership?
    • A. 

      Partnerships

    • B. 

      Individually owned

    • C. 

      General Business Corporations

    • D. 

      All of the above

  • 25. 
    What is the Purpose of a general business corporation?
    • A. 

      To give money to the poor

    • B. 

      To make a profit for investors

    • C. 

      To lose money for investors

    • D. 

      To get stocks for the investors

    • E. 

      None of the above