Home »
MCQs »
Commerce MCQs »
Cooperative Society MCQs
What is a Cooperative Society?
1. What is a Cooperative Society?
- An organization that is, generally, formed independently from the government.
- Legal entity representing an association of people.
- Precise kind of business structure found only in India.
- An autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned enterprise.
Answer: D) An autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned enterprise.
Explanation:
A cooperative society is an independent relationship of people joined intentionally to meet their normal monetary, social, and social necessities and yearnings through a mutually possessed endeavor. Cooperatives are justly claimed by their individuals, with every part having one vote in choosing the directorate.