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Questions and Answers
What is a cooperative society?
What is a cooperative society?
- 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
How are decisions typically made in a cooperative society?
How are decisions typically made in a cooperative society?
- 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
What is the primary purpose of a cooperative society?
What is the primary purpose of a cooperative society?
- 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
What are some common types of business risk for sole proprietors?
What are some common types of business risk for sole proprietors?
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How do business risks for sole proprietors differ from those of larger corporations?
How do business risks for sole proprietors differ from those of larger corporations?
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How can sole proprietors mitigate business risks?
How can sole proprietors mitigate business risks?
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