What do you know about farm management practices? Do you think you can crack this 'Farm management MCQ quiz' that we have designed below? Farm management is not very easy and simple to understand. It involves making a lot of important decisions about how to organize and operate a farm for maximum production and profit. If you wish to see how much you know about it, then try this quiz and see how many marks you can score. Good luck!
An accountant
A broker
A banker
A commissioner
None of the above
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Average
Basis
Contract
Deduction
None of the above
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Independent
Complementary
Supplementary
Competitive
None of the above
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Bear market
Bull market
Boar market
Buck market
None of the above
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Life insurance
Property insurance
Accident and health insurance
Liability insurance
None of the above
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Marketer
Risk taker
Consumer
Aggressor
None of the above
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An average of current agricultural land sales
Using the values set at the federal level
Using 83.3% of Iowa's values
The Missouri State Tax Commission
None of the above
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Fixed cost
Total cost
Variable cost
Time cost
Overhead costs
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1,000
3,000
5,000
7,000
None of the above
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Consumer tastes and quantity demand
Price in the quantity demand
Price in production cost
Money income and quantity demand
None of the above
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Deductible
Indemnity
Loss
Premium
None of the above
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5,280
12,250
43,560
100,000
None of the above
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Calves between 300-600 pounds
Sows
Grain stored on farm premises
Horses
None of the above
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Annuity
Budget
Present value
Future value
None of the above
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Hedging
Hedger to arrive
Intrinsic value
Put option
None of the above
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$65,340.00
$6,534.00
$784.08
$19,800.00
None of the above
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A square mile
A square quarter mile
A square half mile
A quarter township
None of the above
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3
6
9
12
None of the above
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Diminishing returns
Imperfect competition
Inelastic supply
Economies of scale
None of the above
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Debt/asset ratio
Current ratio
Solvency ratio
Leverage ratio
Net capital ratio
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Excise
Medicare
Estate
Property
None of the above
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An increase in net worth on the balance sheet
A decrease in the value of total liabilities on the balance sheet
An increase in the value of total assets on the balance sheet
An increase of total cash flow on the cash flow statement
A decrease in the value of his non-current liabilities
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Upward sloping
Inelastic
Elastic
Unitary
Unstable
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0.83 dollars/pound
1.44 dollars/pound
1.67 dollars/pound
1.75 dollars/pound
None of the above
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Intrinsic value
Hedge
Call option
Put option
None of the above
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Basis
Commission
Margin
Premium
None of the above
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Amortizing
Budgeting
Compounding
Discounting
None of the above
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Health insurance
Accident insurance
Property insurance
Liability insurance
None of the above
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Broker
Commissioner
Owner
Hedger
None of the above
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275 pounds
353 pounds
375 pounds
487 pounds
None of the above
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True value
Real value
Productive capacity
Appraised value
None of the above
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Increase
Decrease
Remain constant
Decrease in short time periods but increase for time periods over 10 years
None of the above
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He has sufficient current assets to cover current debts
He has sufficient equity to cover debts
He has sufficient assets to cover all debts
He can pay all debts with all equity
He can pay off long term obligations within 30 years
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0.75
0.92
1.18
2.07
2.45
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Negative
45%
Less than 100%
Less than 25%
Greater than 100%
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