CRD124 Email: bbcnoun@gmail.com Whatsapp: 08131667008 It is general believe that co- operative societies are owned by Answer: members in economy the business exists only to produce goods and services for the basic consumption of the family. Answer: subsistence which life style is characterized by fixed abode in specific settlements Answer: sedentary All transactions of the Co-operatives must be properly recorded in the books of account. At the end of the financial year, which is usually 31st , every year, the accounts should be closed Answer: march A Co- operative is entity Answer: business A cooperative is a result of joint action by a number of independent primaries and/ or secondaries and/or tertiaries. Answer: federation it is possible eliminate the middle – men in type of cooperative society Answer: consumer The is a booklet where details of a cooperative member’s financial dealing with the society are recoded Answer: passbook Which type of economy is where the output of business enterprises is mainly for domestic consumption Answer: subsistence economy In general, co-operative can be any form of two or more AÂA working together to achieve one goal or the other Answer: persons There are definite rules and regulations governing cooperatives as spelt in the cooperatives Decree of , the cooperatives laws of the various states of the Federation and by laws of each cooperative organization Answer: 1993 which type of co-operatives that engaged in the agricultural sector Answer: all of the above cooperative is the relationship between a Co-operatives organization as a business entity and members’ private business enterprise or household economy. Answer: nexus The first co–operative act of man was when the first human family started gathering even before agriculture was invented Answer: food when Co-operatives business is controlled by members themselves through one man, one vote on any decision affecting the Cooperatives. It is said to be controlled Answer: democratically In traditional societies, we have examples of aid and assistance Answer: mutual Which Co-operatives are co- operatives that have not been fully registered and operating Answer: unregistered what type of capital is raised from the other resources; it is capital raised outside the Cooperative. Answer: boorowed The is an attempts to define co operatives in terms of values, ideologies and overall economic and social goals Answer: essentialist approach Co-operatives action takes place when individuals pool their —together Answer: resources Email: bbcnoun@gmail.com Whatsapp: 08131667008