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10.21 Quiz Bowl Flashcards | StudBud
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10.21 Quiz Bowl
10.21 Quiz Bowl
22 terms
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Flashcards
22 cards
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Questions
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Answers
1
What is the primary focus of transactional leadership?
Inspiring change and innovation
Fostering a collaborative environment
Building emotional connections with team members
Rewarding followers for compliance and performance
2
Which farmer would be in the double dip of death?
ROA of 1%; working capital of 5%
interest expense ratio of of 15%; operating profit margin of 20%
current ratio of 1.5 and D/A ratio of 0.25
D/A ratio of 0.80; operating expense ratio of 0.90
3
The rate of return on equity ratio (ROE) measures ____.
how well capital and human assets are producing profits
a farm's profit margin
how well the owner's investment in the business is generating net income
how well they manage core business activities like production and sales.
4
Which financial ratio shows the percentage of revenue that exceeds total costs?
current ratio
asset turnover ratio
return on investment (ROI)
net profit margin
5
Both public and common resource goods are _____.
excludable
nonexcludable
nonrival
rival
6
The
socially efficient
quantity is at ____ but the market (without govt) will produce at ____.
D; B
B; D
C; B
B; C
7
Which type of manager takes a hands off approach?
autocratic
democratic
laissez-faire
visionary
8
In the absence of market failure, taxes will create a deadweight loss.
False
True
9
What is the purpose of the operating expense ratio?
To assess debt management
To measure liquidity
To evaluate profitability relative to revenue
To track asset performance
10
A transformational leader would most likely have which trait?
low extraversion
high neuroticism
high openness
low agreeableness
11
The Farm Financial Standards Council has ID'ed 5 critical areas for analyzing financial performance. Which is NOT one?
solvency
liquidity
cash flow analysis
financial efficiency
profitability
repayment capacity
12
What is the process of comparing a farm's performance metrics to those of similar operations to find areas to improve?
farm financial statements
profitability analysis
benchmarking
resource analysis
13
___ theorem assets that externalities will solve themselves if parties have low bargaining costs and rights are secured.
Coase
Marshall's
Engel's
Pigou
14
For a negative externality, social cost =
Private cost+ external cost
External Cost - Private Cost
market price + external cost
private benefit + external cost
15
Imposing a tax equal to the external cost is a way to _____ the externality.
internalize
externalize
incorporate
assimilate
16
The sum of the debt-to-asset and equity-to-asset ratios ____.
should be above 1 (100%)
should be below 0.50 (50%)
will differ by farm and there's no set guidance on a preferred number
will equal 1 (100%)
17
Which financial ratio indicates a farm’s ability to meet its short-term obligations?
gross profit margin
working capital
debt-to-asset ratio
return on assets
18
A crowded toll road is a ___ good.
public
private
common resource
club
19
When might a command-and-control measure be best for dealing with pollution?
In situations where pollution is widely dispersed and difficult to regulate
When industry stakeholders have reached a consensus on voluntary standards
they are never the best solution
a severe environmental threat requiring immediate compliance
20
Which financial metric would best assess a farm's operational efficiency?
Debt Coverage Ratio
Return on Assets (ROA)
Current Ratio
Operating Expense Ratio
21
What does a debt-to-equity ratio greater than 1 indicate?
Low solvency
High solvency
High profitability
poor liquidity
low profitability
excellent liquidity
22
What is the primary characteristic of point source pollution?
It can be traced back to a single, identifiable source
It originates from diffuse and scattered sources across a large area
It is only associated with agricultural runoff
It occurs as a result of natural environmental processes
