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Business Studies

MOA and AOA

Statement I :...

Question

Statement I : The liability of members of co-operative society remains limited to the extent of capital contributed by them.
Statement II : The members of co-operative society are personally liable to pay the liability of co-operative society.
Select the correct answer from the options given below:

A

Both 1 and 2 are true

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B

2 is true but 1 is false

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C

1 is true but 2 is false

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D

Both 1 and 2 are false

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Solution

The correct option is C 1 is true but 2 is false
Statement I : The liability of members of co-operative society remains limited to the extent of capital contributed by them- this is a true statement the liability of them is proportionate to the capital contributed by them.
Statement II : The members of co-operative society are personally liable to pay the liability of co-operative society- this is a false statement. They are not liable personally.

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1

:
The liability of members of co-operative society remains limited to the extent of capital contributed by them.
Statement

2

:
The members of co-operative society are personally liable of co-operative society.
Select the correct answer from the options given below.

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.

Q. Select the proper option from the options given below and rewrite the completed sentences.

The minimum of members allowed in a co-operative society is ________.
(a) 20
(b) 10
(c) 7

Q. The minimum number of members required to get a co-operative society registered is _______.

Q. What is the minimum number of members required to form a co-operative society?

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