Co-Operative Society NDA Questions

NDA Economics

Co-Operative Society MCQ Questions


1.
A co-operative society may be broadly defined as a voluntary association of persons, joined together on the basis of:
A.
Inherited family ownership
B.
Equality, for the promotion of their common economic interests through self-help and mutual help
C.
Compulsory government membership
D.
Maximisation of individual profit alone
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ANSWER :
B. Equality, for the promotion of their common economic interests through self-help and mutual help
2.
The fundamental motive underlying the formation of a co-operative society is generally regarded as being:
A.
Service to its members, rather than profit maximisation
B.
Profit maximisation for a small group of owners
C.
Tax avoidance
D.
Political influence
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ANSWER :
A. Service to its members, rather than profit maximisation
3.
In India, a co-operative society is formed and registered under the provisions of the:
A.
Reserve Bank of India Act, 1934
B.
Co-operative Societies Act, 1912 (or corresponding State co-operative societies laws)
C.
Companies Act, 2013
D.
Indian Partnership Act, 1932
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ANSWER :
B. Co-operative Societies Act, 1912 (or corresponding State co-operative societies laws)
4.
The minimum number of members required to form a co-operative society in India is generally:
A.
Ten
B.
Seven
C.
Two
D.
Twenty
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ANSWER :
A. Ten
5.
Upon registration, a co-operative society acquires the status of:
A.
A branch of a registered company
B.
A temporary, unregistered body with no legal identity
C.
A separate legal entity, distinct from its individual members
D.
An extension of the government department that approved it
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ANSWER :
C. A separate legal entity, distinct from its individual members
6.
Membership in a co-operative society is generally characterised by which of the following features?
A.
Compulsory and closed, with no scope for new members to join
B.
Voluntary, in that a person is free to join or leave the society as they wish
C.
Available only to government employees
D.
Restricted only to relatives of the founding members
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ANSWER :
B. Voluntary, in that a person is free to join or leave the society as they wish