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Hidden Goodwill

Invariably is...

Question

Invariably is the disadvantage of co-operative society ________.

A

business secrecy

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B

low prices

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C

limited liability

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D

open membership

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Solution

The correct option is A business secrecy
Co-operative societies have to send their annual reports and accounts to the Registrar of cooperative societies.In this way, the secrets of business become public and hence there is lack of secrecy.

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Q. Invariably _________ is the disadvantage of co-operative society type of organization.

Q. State with reasons whether the following statements are true or false.
1. There is no limit for membership in Joint Hindu family Business.
2. The liability of a Karta in a Joint Hindu family firm is limited.
3. The maximum number of members in a Joint Hindu family is 20.
4. Company form of organization has developed before industrial revolution.
5. A joint stock company can raise huge capital.
6. Share holders can manage the business.
7. The ownership and management are not separate in Joint stock company.
8. The main purpose of a co-operative organization is to earn profit.
9. The membership of a co-operative society is voluntary.
10. Co-operative society differs from other forms of commercial organizations.
11. Maximization of profit is the main motto of co-operative society.
12. In partnership agreement may be oral or written.
13. In a partnership the liability of every partner of a firm is unlimited.
14. The owner of the sole proprietorship is the sole decision maker of his business.
15. Sole Proprietorship is useful for small business.
16. A sole trading concern is easiest to form.

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