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Cooperative society - class-XI

Description: cooperative society
Number of Questions: 19
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Tags: forms of business organisations organization of commerce and management forms and formation of business enterprises business studies joint hindu family business and cooperative society commerce forms of business organisation forms of business organization - 2 forms of business organisation - 1 concept of business organisation of commerce and management cooperative organisation
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AMUL is a __________.

organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

  1. company

  2. co-operative society

  3. co-operation

  4. none of the above

Show answer
Correct Option: B

Member in HUF other than KARTA are called as _____________.

organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

  1. Co-parceners

  2. Co-partner

  3. Co-manager

  4. Co-karta

Show answer
Correct Option: A

Which of the following is example of producers' co-operative society?

organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

  1. Haryana handloom

  2. Gujarat co-operative milk marketing federation

  3. Apna Bazar

  4. Urban Co-operative Banks

Show answer
Correct Option: A

Feature(s) of a public corporation is/are ___________________________.

organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

  1. It is genearlly not exempt from the rigid rules applicable to the expenditure of public funds.

  2. A public Corporation is managed by board of directors who are appointed by the public financial institutions.

  3. The primary motive of the corporation is public service rather than private profits.

  4. All of above.

Show answer
Correct Option: C

The co-operative society has perpetual succession because it is not affected due to ________________.

organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

  1. Death of any member

  2. Insolvency of any member

  3. Lunacy of any member

  4. Any of above

Show answer
Correct Option: D

Life irrigation co-operative societies and pani panchayats are some of the examples of ________________.

organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

  1. Co-operative farming societies

  2. Co-operative marketing societies

  3. Co-operative credit societies

  4. Consumers' co-operative societies

Show answer
Correct Option: A

According to Indian Cooperative Societies Act, 1912, each society must transfer at least ___ of its profits to general reserve.

organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

  1. One third

  2. One fourth

  3. One half

  4. One tenth

Show answer
Correct Option: B

The income of cooperative society is legally ____________ as per the Income tax Act, 1961.

organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

  1. Not taxable

  2. Taxable

  3. Totally exempt

  4. Taxable if State Government pass order

Show answer
Correct Option: B

In case of co-operative society, no member detects the terms and conditions of the functioning because "_________" is the thumb rule.

organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

  1. One man two vote

  2. One man one vote

  3. Two man one vote

  4. No man no vote

Show answer
Correct Option: B

Village Service Co-operative Society and Urban Co-operative Banks are examples of ________________.

organization of commerce and management cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies cooperative society introduction to huf joint hindu family business

  1. Producers' co-operative societies

  2. Co-operative marketing societies

  3. Co-operative credit societies

  4. Consumer's co-operative societies

Show answer
Correct Option: C

Which of the following are examples of "Producers Co-operative Society"?
(1)   APPCO
(2)  Kendriya Bhandar  
(3)  Apna Bazar 
(4)  Haryana Handloom 
(5)  Gujarat Co-operative Milk Marketing 
       Federation
(6)  Employee's Housing Societies 
The correct answer is :-

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. (1), (2), (3) & (6)

  2. (1), (3) & (5)

  3. (2), (4) & (6)

  4. (1) & (4)

Show answer
Correct Option: D

Kendriya Bhandar is a _______.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. co-operative Credit Society

  2. consumers Co-operative Society

  3. producers Co-operative Society

  4. co-operative Marketing Society

Show answer
Correct Option: D
Explanation:

Co-operative marketing society is basically a trading firm in which all the members of the co-operative marketing form sell their product through society. e.g. Kendriya Bhandar.

Amongst all of the following which statements about co-operative business organizations is true?

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. All co-operative are only for public sector

  2. Profits are shared equally amongst members

  3. They are owned by government

  4. Workers have no say in decision making

Show answer
Correct Option: B

Industries which require huge infrastructure, man power and have influx of capital assets are _________.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. small scale enterprises

  2. public sector enterprises

  3. private sector enterprises

  4. large scale enterprises

Show answer
Correct Option: D
Explanation:

Big business involves large-scale corporate-controlled financial or business activities. As a term, it describes activities that run from "huge transactions" to the more general "doing big things.

What is corporate personality?

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. Corporate personality means that the members in general meeting are regarded by the law as a person.

  2. Corporate personality means that the board of directors is regarded by the law as a person.

  3. Corporate personality means that the company as an entity is regarded by the law as a person.

  4. Corporate personality means that all of the companies within a corporate group are regarded by the law as one person.

Show answer
Correct Option: C
Explanation:

Corporate personality is the fact stated by the law that a company is recognized as a legal entity distinct from its members. A company with such personality is an independent legal existence separate from its shareholders, directors, officers and creators. This is famously known as the veil of incorporation.

Every company needs company secretary. So in the case of sec 25 companies the same is the case. Do you agree with this statement?

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. Agree

  2. Disagree

  3. Sec. 25 companies are not companies so no need of company secretary

  4. None of the above

Show answer
Correct Option: B
Explanation:

The company secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented. Despite the name, the role is not clerical or secretarial.

Company secretary has duties under__________.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. Income tax Act.

  2. Companies Act.

  3. Indian stamp Act.

  4. All of the above.

Show answer
Correct Option: D
Explanation:

The company secretary has to follows the rules and check that the company complies with the law under :

  1. Income tax act
  2. Companies act
  3. Indian stamp act

Which of the following are examples of "Producers Co-operative Society"?
(1) APPCO
(2) Kendriya Bhandar
(3) Apna Bazar
(4) Haryana Handloom
(5) Gujarat Co-operative Milk Marketing Fedration
(6) Employees' Housing Societies
The correct answer is ____________________.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. (1), (2), (3) & (6)

  2. (1), (3) & (5)

  3. (2), (4) & (6)

  4. (1) & (4)

Show answer
Correct Option: D

_____ is a voluntary association of persons who work together to promote their economic interest.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation cooperative societies introduction to huf

  1. Sole proprietorship

  2. Company

  3. Co-partnership

  4. Co-operative

Show answer
Correct Option: D
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