Cooperative Principles Quiz
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Questions and Answers

What documentation is required for New Electric Cooperatives as per the text?

  • Certified bank statements for the past two years
  • List of names of shareholders and their addresses
  • Duly-notarized Articles of Cooperation (correct)
  • Audited financial statements for the past three years
  • Which statement accurately reflects the requirement regarding the Treasurer's sworn statement for subscriber-elected Treasurers?

  • Subscription must be fully paid before submitting the statement.
  • At least 50% of the authorized share capital must be subscribed.
  • At least 50% of the total subscription must be paid. (correct)
  • Paid-up share capital cannot be less than Php10,000.00.
  • What is the significance of the Sworn Statement of the Treasurer mentioned in the text?

  • To verify the compliance with share capital requirements (correct)
  • To confirm the number of Board of Directors present
  • To ensure all financial transactions are audited
  • To certify membership approval by existing cooperatives
  • What is needed to be submitted within six months from registration according to the text?

    <p>Surety Bond of Accountable Officers</p> Signup and view all the answers

    Which document must have the signature of all member cooperatives' representatives/cooperators?

    <p>By-laws</p> Signup and view all the answers

    What does the Treasurer's Affidavit need to state according to the text?

    <p>Total amount received from share capital contributions</p> Signup and view all the answers

    What is a key characteristic of cooperatives in terms of membership?

    <p>Open to anyone regardless of gender or race</p> Signup and view all the answers

    How are decisions made within cooperatives according to the principles mentioned?

    <p>By members who equally participate in setting policies</p> Signup and view all the answers

    What is the voting right principle in primary cooperatives as per the principles outlined?

    <p>Equal voting rights of one-member, one-vote</p> Signup and view all the answers

    What role do selected representatives, directors, and officers play in cooperatives?

    <p>They are accountable to the membership for their actions</p> Signup and view all the answers

    What does 'Member Economic Participation' require from cooperative members?

    <p>Equal contribution to and control of cooperative capital</p> Signup and view all the answers

    Which aspect is common to all cooperatives at different levels as per the mentioned principles?

    <p>'One-member, one-vote' democratic organization</p> Signup and view all the answers

    According to the cooperative principles, how is capital in a cooperative controlled?

    <p>Democratically by the members</p> Signup and view all the answers

    How are surpluses allocated in a cooperative?

    <p>Proportionally to members based on their patronage</p> Signup and view all the answers

    What is the principle regarding the autonomy and independence of cooperatives?

    <p>Cooperatives are autonomous and maintain their own control</p> Signup and view all the answers

    What is the principle regarding education and training in cooperatives?

    <p>Education and training are provided to all members, representatives, managers, and employees</p> Signup and view all the answers

    How are voting rights distributed in primary cooperatives?

    <p>Voting rights are distributed equally among members</p> Signup and view all the answers

    How are cooperatives at other levels organized?

    <p>In a democratic manner</p> Signup and view all the answers

    Study Notes

    Cooperative Registration Requirements

    • Required documents for cooperative registration include:
      • By-laws with signatures of all member cooperatives representatives/cooperators
      • Duly-notarized Treasurer's Affidavit stating total amount received from members' share capital contributions, membership fees, donations, or subsidies
      • Duly-audited financial statements for the past two years
      • List of incumbent Board of Directors and their addresses certified by the Board Secretary and attested by the Chairperson
      • Sworn Statement of the Treasurer on authorized share capital, subscribed share capital, paid-up share capital of members, and paid-up share capital received by the Treasurer

    New Electric Cooperatives Requirements

    • Additional requirements for new electric cooperatives include:
      • Duly-notarized Articles of Cooperation
      • By-laws
      • General Assembly Resolution of each member cooperative stating approved membership and paid-up share capital contributions
      • Sworn Statement of the Treasurer elected by the subscribers showing at least 25% of authorized share capital subscribed and 25% of total subscription paid
      • Minimum paid-up share capital of Fifteen Thousand Pesos (Php15,000.00)

    Cooperative Principles

    • Voluntary and Open Membership: cooperatives are voluntary organizations open to all persons without gender, social, racial, cultural, political, or religious discrimination
    • Democratic Member Control: cooperatives are democratic organizations controlled by their members who actively participate in setting policies and making decisions
    • Member Economic Participation: members contribute equitably to, and democratically control, the capital of their cooperative
    • Autonomy and Independence: cooperatives are autonomous, self-help organizations controlled by their members
    • Education, Training, and Information: cooperatives provide education and training for their members, representatives, managers, and employees to contribute to cooperative development

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    Description

    Test your understanding of cooperative principles such as democratic control, equal voting rights, and member economic participation. Explore the accountability of representatives, directors, and officers to the cooperative membership.

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