1st Year Principles of Commerce Chapter 8 TestCooperative Society

Q1. Multiple choice questions (Attempt all · 10 × 1 = 10)

1. Co operative society started in:

   1. 1840

   2. 1844

   3. 1845

   4. 1850

2. The basic aim of a co operative society is:

   1. To store goods

   2. To earn profit

   3. To serve members

   4.  All of them

3. What is excluded from a co operative society?

   1. Consumer

   2. Retailer

   3. Wholesaler

   4. Capitalist

4. In Pakistan, a co operative society is established under the following act:

   1. 1920

   2. 1925

   3. 1930

   4. 1935

5. The price of the share of the society is:

   1. Equal to the face value

   2. Above the face value

   3. Less than the face value

   4. All the above

6. What are the capital sources of co operative society?

   1. Fee of members

   2. By selling shares to members

   3. Both

   4. National and international institutions

7. An orginization which is formed for welfare of its members is called:

   1. Sole tradership

   2. Partnership

   3. Join stock company

   4. Cooperative society

8. A co operative society is established by:

   1. Government institutions

   2. Capitalists

   3. Financially weak consumer

   4. All of them

9. If a co operative society is working in more than one province, then it is registered under the Act of:

   1. 1925

   2. 1932

   3. 1913

   4. 1942

10. The management committee of society is elected by:

    1. Members

    2. Government

    3. The will of a person

    4. All are correct