This quiz works best with JavaScript enabled. Home > Agriculture > Business > Agribusiness > Agribusiness – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Agribusiness Quiz 3 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following formulas calculates net amount? A) Revenues + losses. B) Revenue - losses. C) Losses - revenues. D) Revenues + net worth. Show Answer Correct Answer: B) Revenue - losses. 2. Which of the following are temporary agricultural programs? A) H-2A Programs. B) Fair Labor Standards Programs. C) Migrant and Seasonal Agricultural Worker Protection. D) Safe Labor Standards Program. Show Answer Correct Answer: A) H-2A Programs. 3. What is the name of formal institution that gives you financial intermediaries? A) Banks. B) School. C) Campus. D) Restaurants. Show Answer Correct Answer: A) Banks. 4. Which is the business function that involves selecting a product or service to be marketed for profit? A) Buying function. B) Selling function. C) Financing function. D) Promoting function. Show Answer Correct Answer: A) Buying function. 5. What is the number 1 agriculture state in the US? A) West Virginia. B) Kansas. C) California. D) Alabama. Show Answer Correct Answer: C) California. 6. Rent is an example of which of the following? A) Net worth. B) Variable. C) Asset. D) Fixed. Show Answer Correct Answer: D) Fixed. 7. When evaluating records liquidity is a key element of determining the true financial picture of an agribusiness. In terms of cash dollars which liquidity measure gives the greatest indication of financial efficiency? A) Leverage Ratio. B) Current Ratio. C) Working Capital. D) Return to Assets. Show Answer Correct Answer: C) Working Capital. 8. If a worker is untrained and exposed to chemicals while working on a farm, this issue would be related to what government agency? A) EPA. B) FDA. C) OSHA. D) USDA. Show Answer Correct Answer: C) OSHA. 9. What's we learn from VUCA A) To prepare/internal response from changing situation. B) To prepare from political issues. C) To prepare from technical invention. D) To prepare internally. Show Answer Correct Answer: A) To prepare/internal response from changing situation. 10. Which type of business is inexpensive to set up, but has personal liability? A) Sole proprietorship. B) Sub-chapter S corporation. C) LLC. D) Corporation. Show Answer Correct Answer: A) Sole proprietorship. 11. Which of the following is NOT an advantage of a C corporation? A) Possible income tax savings for high income businesses. B) Simplification of estate transfer. C) Limited liability for each shareholder. D) Assures a profit due to better management. Show Answer Correct Answer: D) Assures a profit due to better management. 12. Which of the following changes raw or processed goods into finished goods? A) Producers. B) Intermediaries. C) Processors. D) Manufactureres. Show Answer Correct Answer: D) Manufactureres. 13. The ability of the firm to maintain an environment-friendly operation and healthy business condition at all times is called A) Environmental Sustainability. B) Social Sustainability. C) Economic Sustainability. D) None of above. Show Answer Correct Answer: A) Environmental Sustainability. 14. Agriculture has focused in recent years on using communication technology to help promote the industry as a whole. In the state of Kentucky for example, the industry has been helped greatly through programs such as Kentucky Proud. How has this form of communication technology helped the perception of agriculture? A) The promotion of agriculture through medial sources allow agriculturalists to have the chance to advertise positive attributes in various outlets with state backing with a limited cost. B) By allowing agriculturalists the chance to learn more about technology through low cost programs operated by state and federal agencies. C) By basic training programs in communication technology to help an aging agricultural producer sector to learn more about promotion within their industry. D) Through providing grants to help rural America receive technology that then could be used to help develop a campaign for communication technology for increased positive perceptions. Show Answer Correct Answer: A) The promotion of agriculture through medial sources allow agriculturalists to have the chance to advertise positive attributes in various outlets with state backing with a limited cost. 15. What's sub system 2 in agribusiness refer to Bungaran saragih A) Production or usaha tani. B) Manufacturing. C) Agricultural facilities. D) Distribution and marketing. Show Answer Correct Answer: A) Production or usaha tani. 16. What are the 4 types of SAEs? A) Entrepreneurship, Internship, Leadership, Exploratory. B) Production, Placement, Agriscience, Internship. C) Production, Livestock, Plants, Technology. D) Entrepreneurship, Placement, Research, Exploratory/Foundational. Show Answer Correct Answer: D) Entrepreneurship, Placement, Research, Exploratory/Foundational. 17. A drought in South America will A) Increase the chance for rain in the United States. B) Decrease the amount of snow that falls in the Rocky Mountains. C) Increase demand for U.S. grain. D) Decrease the price of U.S. grain. Show Answer Correct Answer: C) Increase demand for U.S. grain. 18. A major advantage of owning a business is: A) Control over your destiny. B) Financial responsibility. C) The relationship of business income and family finances. D) A shorter work week. Show Answer Correct Answer: A) Control over your destiny. 19. What is the equation for calculating owner's equity? A) Total Assets-Total Liability. B) Total Assets/ Total Liability. C) Total Assets + Total Liability. D) Total Assets X Total Liability. Show Answer Correct Answer: A) Total Assets-Total Liability. 20. Which of the following bring nonimmigrant foreign workers to the United States? A) Fair Labor Standards. B) Child Labor Law. C) Migrant and Seasonal Agricultural Workers Protection Act. D) H-2A Program. Show Answer Correct Answer: D) H-2A Program. 21. H-2A workers play an important role in the agribusiness sector. These migrant workers provide a labor force that helps in various aspects of the agricultural industry. Which of the following is not a guideline related to H-2A workers in the United States? A) An employer must provide free housing for all laborers including individuals that live within a close proximity and could return home each day. B) An employer must have a labor certificate from the Department of Labor before employing H-2A workers. C) Transportation from and back to the country of origin. D) Guaranteed employment for seventy-five percent of the period specified in the work contract. Show Answer Correct Answer: A) An employer must provide free housing for all laborers including individuals that live within a close proximity and could return home each day. 22. Which one of the following can influence the value of crop land? A) Interest rate of the mortgage. B) National gross farm income. C) A mortgage on the land. D) What it produced last year. Show Answer Correct Answer: B) National gross farm income. 23. Agribusiness is the science and art of mobilizing, utilizing and managing economic resources to produce goods and services to generate profit. A) Agribusiness as a Field of Study. B) Agribusiness as an Investment. C) Agribusiness and Agriculture. D) None of above. Show Answer Correct Answer: B) Agribusiness as an Investment. 24. If a farmer is deciding whether to sell cattle this week or next, this would fall under what decision making category? A) Short-term. B) Capital outlay. C) Operational. D) Organizational. Show Answer Correct Answer: C) Operational. 25. Assume that the cross-price elasticity of pork for chicken is 1.2. This cross-price elasticity indicates that: A) Pork and chicken are complementary goods. B) There is no relationship between the demand for pork and the price of chicken. C) A 1.2 percent increase in the price of chicken will lead to a 1 percent increase in the price of pork. D) A 10 percent increase in the price of check should lead to a 12 percent increase in the demand for pork. Show Answer Correct Answer: D) A 10 percent increase in the price of check should lead to a 12 percent increase in the demand for pork. 26. If a farmer is deciding whether to rent additional land, this would fall under what decision making category? A) Capital outlay. B) Long-term. C) Organizational. D) Operational. Show Answer Correct Answer: C) Organizational. 27. Move finished goods from one business to another, also known as the "middlemen" A) Producers. B) Manufacturers. C) Intermediaries. D) Processors. Show Answer Correct Answer: C) Intermediaries. 28. Where do food retailers (grocery stores) primarily purchase their food? A) Food cooperatives. B) Food wholesalers. C) Farm outlets. D) Food stores. Show Answer Correct Answer: B) Food wholesalers. 29. Cattle and ways of ranching were brought to Texas and North America by the ..... A) French. B) Spanish. C) English. D) Germans. Show Answer Correct Answer: B) Spanish. 30. Which of the following is the roadmap of where the business is going? A) Business agenda. B) Executive plan. C) Executive agenda. D) Business plan. Show Answer Correct Answer: D) Business plan. ← PreviousNext →Related QuizzesBusiness QuizzesAgriculture QuizzesAgribusiness Quiz 1Agribusiness Quiz 2Agribusiness Quiz 4Agribusiness Quiz 5Agribusiness Quiz 6Agribusiness Quiz 7Agribusiness Quiz 8Agribusiness Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books