Question

State with reasons whether the following statements are True or False

Co-operative soc iety differs from.other forms of commercial orge1nisations.

Answer 1

This statement is True.

1. Co-operative society is a society which has its objectives for the promotion of economic interests of its members in accordance with co-operative principles.”    (Indian Co-operative Societies Act1912).

2 .Service is the main motive of the Co – operative organisation, even though earning reasonable profit is a secondary motive.

3. One member one vote is the principle of Co – operative organisation which is different from one share one vote in other organizations.

4 .Membership is open to all irrespective of caste, creed, rich and poor etc. Surplus if any left after the detecting the expenditure from the Income is distributed among members.

5 .Thus we can say that, Co – operative Society differs from other forms of commercial organizations