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Questions and Answers
Which act makes the registration of a cooperative society compulsory?
Which act makes the registration of a cooperative society compulsory?
- The Cooperative Registration Act
- The Democratic Management Act
- The Voluntary Association Act
- The Indian Cooperative Societies Act (correct)
How many members are required to form a cooperative society?
How many members are required to form a cooperative society?
- 10 members (correct)
- 20 members
- 5 members
- 15 members
What is the main goal of a cooperative society?
What is the main goal of a cooperative society?
- Competition with other societies
- Profit maximization
- Promotion of common goals (correct)
- Individual success
What is the key characteristic of a cooperative society?
What is the key characteristic of a cooperative society?
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Study Notes
Cooperative Society Registration
- The Cooperative Societies Act makes the registration of a cooperative society compulsory.
Formation of a Cooperative Society
- A minimum of 10 members are required to form a cooperative society.
Goals and Characteristics
- The main goal of a cooperative society is to provide service to its members and not to maximize profits.
- The key characteristic of a cooperative society is mutual aid, where members work together for their common benefit.
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