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!
Average
Basis
Contract
Deduction
None of the above
The slope of the land
The erosion of potential land
The color of the soil
The productivity potential of the land
All of the above
5,280
12,250
43,560
100,000
None of the above
Fixed cost
Total cost
Variable cost
Time cost
Overhead costs
Independent
Complementary
Supplementary
Competitive
None of the above
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
1,000
3,000
5,000
7,000
None of the above
Basis
Commission
Margin
Premium
None of the above
Consumer tastes and quantity demand
Price in the quantity demand
Price in production cost
Money income and quantity demand
None of the above
0.75
0.92
1.18
2.07
2.45
Amortizing
Budgeting
Compounding
Discounting
None of the above
3
6
9
12
None of the above
Bear market
Bull market
Boar market
Buck market
None of the above
Negative
45%
Less than 100%
Less than 25%
Greater than 100%
Hedging
Hedger to arrive
Intrinsic value
Put option
None of the above
Calves between 300-600 pounds
Sows
Grain stored on farm premises
Horses
None of the above
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
Diminishing returns
Imperfect competition
Inelastic supply
Economies of scale
None of the above
An accountant
A broker
A banker
A commissioner
None of the above
Debt/asset ratio
Current ratio
Solvency ratio
Leverage ratio
Net capital ratio
Upward sloping
Inelastic
Elastic
Unitary
Unstable
Life insurance
Property insurance
Accident and health insurance
Liability insurance
None of the above
Deductible
Indemnity
Loss
Premium
None of the above
Excise
Medicare
Estate
Property
None of the above
True value
Real value
Productive capacity
Appraised value
None of the above