WAEC - Commerce (2005 - No. 34)
The distribution of profits based upon the level of patronage in the business is a common feature of
partnership firms
public limited companies
co-operative societies
private limited companies
Explanation
Co-operative societies allocate profits to their members according to their level of participation or patronage, rather than the amount of capital invested. This aspect sets them apart from other business structures such as partnership firms and companies.
Comments (0)
