Correct Answer: Option B

Explanation

A trade association is a voluntary organization of independent business units in the same branch of industry, which conducts co-operatively activities aimed at improving the welfare of the group, which does not deprive its members of the power to make essential managerial decisions.”Trade associations are formed by businesses which are engaged in same or similar trade. They are organized on a non-profit basis. Trade associations are formed for the protection and promotion of business interests of its members.

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