JAMB - Commerce (2019 - No. 44)
The basic characteristics of co-operative society include all except one
It is managed democratically
It follows the principle of one man
Amateur Management
Extra capital is raised through loan
Explication
Basic features of a cooperative society
- Voluntary Association
- Open Membership
- Service Motive
- State Control
- Democratic Management
- Separate Legal Entity
- Distribution of Surplus