Name: Quiz: ky agribusiness Skill Stds. Practice Quiz

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Quiz: KY Agribusiness Skill Stds. Practice Quiz

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Top of Form

Multiple Choice:

Identify the letter of the choice that best completes the statement or answers the question.


What is a potential danger that may cause personal injury?


  1. accident

  2. risk

  3. caution

  4. hazard



What is a special type of corporation that is designed to provide services to members?


  1. non-profit organization

  2. cooperative

  3. association

  4. corporation



Which of the following is an area of technology used in precision farming?


  1. geographic information systems (GIS)

  2. cloning

  3. bovine somatotropin (bST)

  4. mass selection



Where is the bulk of biotechnology research taking place?


  1. Africa

  2. China and India

  3. South America

  4. North America



What is a teamwork skill?


  1. taking credit for the work and ideas of others

  2. being able to work with various people and conditions

  3. complaining about everything

  4. being inconsiderate of others



When disagreeing with authority, what should one do?


  1. before acting, consider the situation

  2. vent and get angry or abusive with the employer

  3. don’t waste your time to carefully explain your feelings

  4. refuse to compromise your position



What is a term for important abilities that help people work together and get along?


  1. being courteous

  2. respecting other people

  3. using common greetings

  4. people skills



Which of the following is a good personality-related human relations skill?


  1. uncooperative

  2. rigid

  3. honesty and integrity

  4. undependable



__________________________________ means that a person or agribusiness practice is truthful and trustworthy.


  1. Quality of products

  2. Accuracy

  3. Honesty

  4. Honoring a contract



What are the personal standards that influence decisions and way of living?


  1. ethics

  2. truths

  3. conflicts

  4. values



What is something a person wants to achieve?


  1. winning

  2. money

  3. success

  4. a goal



What does a baccalaureate degree involve?


  1. completing four years of college

  2. education beyond a four-year college degree

  3. two years of education beyond high school

  4. completion of high school but no additional education



What is continuing education?


  1. education an individual obtains throughout his or her lifetime

  2. community college studies

  3. formal education

  4. workshops



What type of supervised agricultural experience program allows a wide range of experiences?


  1. exploratory SAE

  2. ownership SAE

  3. placement SAE

  4. research and experimentation SAE



What is the use of techniques that allow people to resolve problems that arise between them?


  1. conflict

  2. cooperation

  3. conflict resolution

  4. gossip



A ___________________ is a business with a single owner/operator.


  1. sole proprietorship

  2. partnership

  3. corporation

  4. cooperative



What is an advantage of a sole proprietorship?

  1. Sole proprietors are their own bosses.

  2. It may be difficult to raise enough capital to begin business.

  3. All assets, business and personal, may be used to meet debts.

  4. The proprietor is responsible for the entire business.



What is a disadvantage of a sole proprietorship?


  1. The proprietor can make quick decisions or change business direction faster.

  2. The proprietor receives all profits.

  3. Business expansion decisions are easy to accomplish.

  4. An injury could cause a stop in the business.



What is an advantage of a partnership?


  1. Partners may not agree on decisions that need to be made.

  2. Death or illness can cause the dissolution of the business.

  3. There is unlimited liability among the partners.

  4. Capital and knowledge of each partner is pooled.



What is a disadvantage of a partnership?


  1. Labor and management responsibilities can be divided among the partners.

  2. Risk of the business is shared.

  3. Each partner is personally liable for business debts.

  4. Capital and knowledge of each partner is pooled.



What is an advantage of a corporation?


  1. Organizing a corporation can be complicated and costly.

  2. They usually have additional bookkeeping and accounting costs.

  3. Freedom of actions and changes to the business is limited.

  4. There is a separation between ownership and management



What is an advantage of a cooperative?


  1. The cooperative’s philosophy centers on member services.

  2. One person controls the business.

  3. One or two people pool resources to start the cooperative.

  4. Cooperatives are generally short-lived.




Why are records important for an agricultural business?


  1. To determine earnings

  2. To determine profit and loss

  3. To determine financial progress or net worth

  4. All the above



What are the two primary functions of records in an agricultural business?


  1. tax purposes and management information

  2. earnings and profit

  3. losses and liabilities

  4. loans and debts



What are assets?


  1. debt obligations

  2. those debts due within one year

  3. items owned by the business and have value

  4. those debts due after one year



How is net worth or equity is calculated?


  1. by subtracting total liabilities from total assets

  2. by adding total liabilities and assets

  3. current liabilities plus non-current liabilities

  4. current assets plus noncurrent assets



______________________ is a financial instrument that shows the profits or losses of a business over a period of time.


  1. Net worth statement

  2. Income statement

  3. Cash flow statement

  4. Expense statement



How can a business owner use computerized record keeping?


  1. Track inventories.

  2. Record tax and accounting information.

  3. Provide financial statements.

  4. All the above



What looks at income and expenses related to a particular component of the whole business?


  1. enterprise budget

  2. partial budget

  3. whole business budget

  4. budget



What is the amount of money that goes in and out of a business?


  1. net worth

  2. balance sheet

  3. profit and loss statement

  4. cash flow




Which of the following statements best describes precision farming's benefit to agriculture?

  1. Precision farming practices reduce production costs.

  2. Sustainable agriculture is promoted by improving the precision at which fertilizers and other chemical inputs are applied to a field.

  3. Precision farming is a practice that will best explain modern agriculture's goal to the remaining 98% of the United States population.

  4. Precision farming practices is the future of mapping crops.



Variable rate application refers to the use of _______ data of cropping inputs such as seed, fertilizer, lime and pesticides.

  1. site-specific

  2. new

  3. past years

  4. university

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