Which of the following is not a feature of co-operative society?

Commerce

WAEC 2010

A. Owners are the customers
B. Capital can be repaid to a member
C. Votes are according to shares held
D. Dividend is based on patronage

Your School's Whatsapp Group - Join Us now

Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts

Correct Answer: Option C

Explanation

Features of a Cooperative Society

- As it is a voluntary association, the membership is also voluntary.
- There is limited liability of the members of co-operative society.
- Liability is limited to the extent of the amount contributed by members as capital.
- An elected managing committee has the powers to take decisions.

Previous Next

Go back to Comm classroom

Report an Error Ask A Question Download App