Tag: features, organisation, advantages and disadvantages of cooperative organisation

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Questions Related to features, organisation, advantages and disadvantages of cooperative organisation

Multiple choice organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

AMUL is a __________.

  1. company

  2. co-operative society

  3. co-operation

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

AMUL (Anand Milk Union Limited) is a well-known Indian dairy cooperative society based in Gujarat.

Multiple choice organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

Member in HUF other than KARTA are called as _____________.

  1. Co-parceners

  2. Co-partner

  3. Co-manager

  4. Co-karta
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In a Hindu Undivided Family (HUF), the head is the Karta, while the other male members who have a right to the ancestral property are known as coparceners.

Multiple choice organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

Which of the following is example of producers' co-operative society?

  1. Haryana handloom

  2. Gujarat co-operative milk marketing federation

  3. Apna Bazar

  4. Urban Co-operative Banks
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Producers' cooperative societies are formed to help small producers in procuring raw materials or marketing their products. Haryana Handloom is an example of such a society.

Multiple choice organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

Feature(s) of a public corporation is/are ___________________________.

  1. It is genearlly not exempt from the rigid rules applicable to the expenditure of public funds.

  2. A public Corporation is managed by board of directors who are appointed by the public financial institutions.

  3. The primary motive of the corporation is public service rather than private profits.

  4. All of above.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Public corporations are established by special acts of parliament to provide essential services to the public, prioritizing service over profit generation.

Multiple choice organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

The co-operative society has perpetual succession because it is not affected due to ________________.

  1. Death of any member

  2. Insolvency of any member

  3. Lunacy of any member

  4. Any of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A cooperative society is a separate legal entity. Its existence is independent of the status of its members, meaning it continues regardless of death, insolvency, or lunacy of any member.

Multiple choice organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

Life irrigation co-operative societies and pani panchayats are some of the examples of ________________.

  1. Co-operative farming societies

  2. Co-operative marketing societies

  3. Co-operative credit societies

  4. Consumers' co-operative societies
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Cooperative farming societies are formed by small farmers to pool their land and resources to improve agricultural productivity, which includes irrigation management.

Multiple choice organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

According to Indian Cooperative Societies Act, 1912, each society must transfer at least ___ of its profits to general reserve.

  1. One third

  2. One fourth

  3. One half

  4. One tenth
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Under the Cooperative Societies Act of 1912, a cooperative society is mandated to transfer at least 25 percent (one-fourth) of its net profits to a general reserve fund.

Multiple choice organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

The income of cooperative society is legally ____________ as per the Income tax Act, 1961.

  1. Not taxable

  2. Taxable

  3. Totally exempt

  4. Taxable if State Government pass order
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Cooperative societies are considered legal entities and are subject to income tax under the Income Tax Act, 1961, though they may enjoy certain deductions or exemptions.

Multiple choice organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

In case of co-operative society, no member detects the terms and conditions of the functioning because "_________" is the thumb rule.

  1. One man two vote

  2. One man one vote

  3. Two man one vote

  4. No man no vote
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The fundamental principle of a cooperative society is democratic control, which is expressed as one man, one vote, regardless of the amount of capital contributed.

Multiple choice organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

Village Service Co-operative Society and Urban Co-operative Banks are examples of ________________.

  1. Producers' co-operative societies

  2. Co-operative marketing societies

  3. Co-operative credit societies

  4. Consumer's co-operative societies
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Credit cooperative societies are established to provide financial assistance and credit facilities to their members, such as village service societies and urban banks.