Which of the following is not a feature of co-operative society?
-
A.
Owners are the customers -
B.
Capital can be repaid to a member -
C.
Votes are according to shares held -
D.
Dividend is based on patronage
Correct Answer: Option C
Explanation
Features of a Cooperative Society
– As it is a voluntary association, the membership is also voluntary.
– There is limited liability of the members of co-operative society.
– Liability is limited to the extent of the amount contributed by members as capital.
– An elected managing committee has the powers to take decisions.