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The basic characteristics of co-operative society include all except one

Commerce
JAMB 2019

The basic characteristics of co-operative society include all except one

  • A. It is managed democratically
  • B. It follows the principle of one man
  • C. Amateur Management
  • D. Extra capital is raised through loan
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Correct Answer: Option B
Explanation

Basic features of a cooperative society

  • Voluntary Association
  • Open Membership
  • Service Motive
  • State Control
  • Democratic Management
  • Separate Legal Entity
  • Distribution of Surplus
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