Principles of Commerce ICOM Part 01 Top 500 + MCQS Download Pdf Chapter No 08

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Principles of Commerce ICOM Part 01 Top 500 + MCQS Download Pdf
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Chapter # 08

Co-operative Society

Encircle the most appropriate answer from the following options

1 The basic aim of a co-operative society is:

  1. To store goods
  2. The welfare of members of society
  3. To earn profit 
  4. All the above

2. Co-operative society started in:

  1. 1840
  2. 1844
  3. 1845
  4. 1850

3. In Pakistan, a co-operative society is established under the following act:

  1. 1920
  2. 1925
  3. 1930
  4. 1935

4. Who provides the capital for co-operative society:

  1. Government   
  2. Members
  3. Banks
  4. None of these

5 What are the capital sources of co-operative society:

  1. Fee of members        
  2. By selling shares to members
  3. Both (a) and (b)
  4. National and international institutions

6. A cooperative society is established by:

  1. government institutions
  2. Financially weak consumer
  3. Capitalists       
  4. All the people

7. The minimum number of members in a co-operative society:

  1. Two    
  2. Twenty
  3. Five    
  4. Ten

8. What is excluded from a co-operative society:

  1. Consumer      
  2. Capitalist
  3. Retailer
  4. Wholesaler

9. The price of the share of society is:

  1. Equal to the face price        
  2. Less than the face price
  3. Above the face price 
  4. All the above

10. Maximum number of members in a co-operative society:

  1. Ten     
  2. Fifty
  3. Twenty           
  4. None of these

11.The shares of a cooperative society can be transferred

  1. After 6 months           
  2. At any time
  3. All are wrong  
  4. After 1 year

12. The management committee of society is elected by

  1. Shareholders
  2. The will of one person
  3. Government   
  4. All are correct

13. If a co-operative society is working in more than one province, then it is registered under the Act of:

  1. 1925   
  2. 1932
  3. 1913
  4. 1942

14. Who cannot be a member of co-operative society:

  1. Govt. Servant
  2. Minor person
  3. Illiterate person           
  4. None of these

15. The liability of shareholders in co-operative society is:

  1. Limited
  2. Unlimited
  3. Both (a) and (b)
  4. None

16. The shares of cooperative society:

  1. Can be sold in market
  2. Can be used as security
  3. Cannot be sold in market
  4. All are correct

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