This quiz works best with JavaScript enabled. Home > Business > Agribusiness – Quiz 11 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Agribusiness Quiz 11 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Agribusiness means business based on agricultural and it's covered A) All commodity in fishery. B) Food crops, holticulture and plantation. C) All commodity and product in forestry. D) All forestry, fishery, livestock, food crops and plantation products. Show Answer Correct Answer: D) All forestry, fishery, livestock, food crops and plantation products. 2. An enterprise which derives a significant portion of its revenue. A) Agribusiness. B) Business Mangement. C) Business. D) Agricultural Services. Show Answer Correct Answer: A) Agribusiness. 3. Four sections of land are how many square miles? A) 1 square mile. B) 2 square miles. C) 3 square miles. D) 4 square miles. Show Answer Correct Answer: D) 4 square miles. 4. What is an example of a current asset? A) Bank account balance. B) Credit card bill. C) Land. D) Tractor. Show Answer Correct Answer: A) Bank account balance. 5. Enhances profit opportunities for cattle & beef producers by increasing business and creating consumer demand A) National Cattlemen's Beef Association. B) Farm Bureaus. C) National Pork Producers Council. D) The Association of Soil and Water Conservation Districts. Show Answer Correct Answer: A) National Cattlemen's Beef Association. 6. Who is Indonesia's cooperative founder? A) Moh Hatta. B) Soekarno. C) Soesilo Bambang Yudhoyono. D) Sudirman. Show Answer Correct Answer: A) Moh Hatta. 7. The most important reason for complete farm financial records should be A) For income tax reporting and to meet the requirement for reporting hired labor. B) To settle insurance claims. C) To inform the bank of the success of the farm business. D) To combine with production records to provide information for management decision making. Show Answer Correct Answer: D) To combine with production records to provide information for management decision making. 8. Nationally, what has the Census of Agriculture shown is happening to the total number of farms in the U.S.? A) Increasing. B) Decreasing. C) Staying the same. D) None of above. Show Answer Correct Answer: B) Decreasing. 9. The term for "additional pay for a job done" is ..... A) Collateral. B) Commission. C) Finance charge. D) Gross income. Show Answer Correct Answer: B) Commission. 10. Assets may include which of the following? A) Feed store bill. B) Equipment. C) Equipment loans. D) Borrowed cash. Show Answer Correct Answer: B) Equipment. 11. If the price of wheat goes up relative to the price of corn A) Farmers will plant more corn and less wheat. B) Farmers will use less corn. C) Farmers will plant more wheat and less corn. D) Farmers will not change planing intentions. Show Answer Correct Answer: C) Farmers will plant more wheat and less corn. 12. Which of the following types of business ownership includes contract farming? A) Corporations. B) Sole proprietorship. C) Partnership. D) Cooperatives. Show Answer Correct Answer: C) Partnership. 13. Evaluating worker performance and coaching for development is part of A) Controlling. B) Leading. C) Planning. D) Organizing. Show Answer Correct Answer: B) Leading. 14. It refers to the ability of the firm to maintain its employees, serve customers and sustain community relationships in the long run. A) Environmental Sustainability. B) Social Sustainability. C) Economic Sustainability. D) None of above. Show Answer Correct Answer: B) Social Sustainability. 15. To achieve domestic market leader in fishery product A) Planning. B) Organizing. C) Leading. D) Controlling. Show Answer Correct Answer: A) Planning. 16. Inventory is recorded as which of the following on the company's balnce sheet? A) Asset. B) Expense. C) Liability. D) Cost. Show Answer Correct Answer: A) Asset. 17. Compare implementation or results with standards A) Planning. B) Organizing. C) Leading. D) Controlling. Show Answer Correct Answer: D) Controlling. 18. Which of the following would not be an advantage of using cash accounting in agricultural business? A) Revenue is often recorded in a year where the production did not actually take place such as selling corn harvested in 2016 in 2017 after storage. B) Simplicity in record keeping throughout the process. C) The cost of an item is deductible within the year the transaction occurred for tax purposes. D) The cash method does not use an inventory to keep track of unsold products or unused supplies. Show Answer Correct Answer: A) Revenue is often recorded in a year where the production did not actually take place such as selling corn harvested in 2016 in 2017 after storage. 19. Approximately 75% of the milk sold in the US is sold through farmer-owned, milk-marketing organizations known as what? A) Direct sellers. B) Terminal marketers. C) Cooperatives. D) Vertical integrators. Show Answer Correct Answer: C) Cooperatives. 20. A disadvantage of being an employee is: A) Overtime pay. B) Regular hours. C) Little or no control over future job. D) Fringe benefits. Show Answer Correct Answer: C) Little or no control over future job. ← PreviousNext →Related QuizzesAgribusiness Quiz 1Agribusiness Quiz 2Agribusiness Quiz 3Agribusiness Quiz 4Agribusiness Quiz 5Agribusiness Quiz 6Agribusiness Quiz 7Agribusiness Quiz 8Agribusiness Quiz 9Agribusiness Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books