6 Questions
What is a cooperative society?
A business owned and operated by a group of individuals for their mutual benefit
How are decisions typically made in a cooperative society?
Through a democratic process where each member has one vote
What is the primary purpose of a cooperative society?
To meet the common economic, social, and cultural needs of its members
What are some common types of business risk for sole proprietors?
Market risk, financial risk, and legal risk
How do business risks for sole proprietors differ from those of larger corporations?
Sole proprietors bear personal liability for business debts and obligations
How can sole proprietors mitigate business risks?
By obtaining appropriate insurance coverage and creating a detailed business plan
Test your knowledge about cooperative societies with this quiz. Learn about the purpose and structure of cooperative societies, and how decisions are typically made within them.
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