Cooperative Societies Quiz

A business owned and operated by a group of individuals for their mutual benefit (correct)

A government-owned organization for public welfare

A non-profit organization for charitable activities

A privately-owned company for profit maximization

Through a hierarchical structure with top-down decision-making

Through a democratic process where each member has one vote (correct)

Based on the financial contribution of each member

By appointing a single leader to make all decisions

To provide employment opportunities for non-members

To maximize profits for individual shareholders

To meet the common economic, social, and cultural needs of its members (correct)

To compete with other businesses in the market

<p>Market risk, financial risk, and legal risk</p> Signup and view all the answers

<p>Sole proprietors bear personal liability for business debts and obligations</p> Signup and view all the answers

<p>By obtaining appropriate insurance coverage and creating a detailed business plan</p> Signup and view all the answers