Cooperative societies are formed with the aim of helping their members. This type of business organisation is formed mainly by weaker sections of the society in order to prevent any type of exploitation from the economically stronger sections of the society.
Following are some of the Cooperative society multiple choice questions and answers that will help the students in brushing up their understanding of the concept.
Q1. Co-operative movement first started in
(a) England
(b) France
(c) Spain
(d) Germany
Answer: a
Q2. In India, the Co-operative Societies Act was passed in which year?
(a) 1919
(b) 1949
(c) 1904
(d) 1912
Answer: d
Q3. The members of a Co-operative Society have
(a) Unlimited liability
(b) Limited liability
(c) Joint and Several liability
(d) Joint liability
Answer: b
Q4. Co-operatives in India follow this type of organisation structure
(a) Centralized Structure
(b) Decentralized Structure
(c) Unitary Structure
(d) Federal Structure
Answer: d
Q5. Apex Society represents
(a) Village level
(b) District level
(c) State level
(d) National level
Answer: c
Q6. For Co-operative Credit Societies, the interest rate for deposits are fixed by:
(a) Registrar
(b) Government
(c) General Body
(d) RBI
Answer: a
Q7. In a Co-operative Society, admission of members and allocation of shares is done by
(a) Secretary
(b) Managing Committee
(c) President
(d) General Body
Answer: b
Q.8 The Urban Credit Cooperatives are also known as
(a) National Banks
(b) Urban Cooperative Banks
(c) Cooperative Banks
(d) None of the above
Answer: b
Q.9 Cooperative banks that fall under the banking regulation act of 1949 are controlled by.
(a) NABARD
(b) National Cooperative Union of India
(c) Reserve Bank of India
(d) None of the above
Answer: c
Q10. The principle followed in a co-operative society is
(a) No vote
(b) One man, one vote
(c) Multiple votes
(d) One share one vote
Answer: b
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