Question

Which of the following is/ are not disadvantage of co-operatives?

• A. Lack of capital
• B. Mutual help instead of competition
• C. Difficult to maintain business secrecy
• D. Unwanted interference by the departmental personnel

Answer 1

The correct option is B Mutual help instead of competition

A Co-operative Society is an artificial voluntary association of people who work together to promote their economic interest and in order to achieve common goals. These society are incorporated with some social motives and they often have separate legal body and common seal. The main objective of such a society is to self help each other by using the resources gathered by the society and do not depend on anyone.