Tag: cooperative societies

Questions Related to cooperative societies

AMUL is a __________.

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

  1. company

  2. co-operative society

  3. co-operation

  4. none of the above

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Correct Option: B

Member in HUF other than KARTA are called as _____________.

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

  1. Co-parceners

  2. Co-partner

  3. Co-manager

  4. Co-karta

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Correct Option: A

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

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

  1. Haryana handloom

  2. Gujarat co-operative milk marketing federation

  3. Apna Bazar

  4. Urban Co-operative Banks

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Correct Option: A

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

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

  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.

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Correct Option: C

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

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

  1. Death of any member

  2. Insolvency of any member

  3. Lunacy of any member

  4. Any of above

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Correct Option: D

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

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

  1. Co-operative farming societies

  2. Co-operative marketing societies

  3. Co-operative credit societies

  4. Consumers' co-operative societies

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Correct Option: A

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

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

  1. One third

  2. One fourth

  3. One half

  4. One tenth

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Correct Option: B

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

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

  1. Not taxable

  2. Taxable

  3. Totally exempt

  4. Taxable if State Government pass order

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Correct Option: B

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

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

  1. One man two vote

  2. One man one vote

  3. Two man one vote

  4. No man no vote

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Correct Option: B

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

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

  1. Producers' co-operative societies

  2. Co-operative marketing societies

  3. Co-operative credit societies

  4. Consumer's co-operative societies

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Correct Option: C