At least 10 adults, no maximum limit in case of _____ (a) Cooperative Society (b) Joint Hindu Family (c) Partnership (d) Company. They may be the residents of same locality, employees of some organisation, belonging to some group having affinity etc. Another way to prevent getting this page in the future is to use Privacy Pass. 4. If you have any queries related to CBSE Class 11 Business Studies Forms of Business Organisation MCQs Multiple Choice Questions with Answers, drop your questions below and will get back to you in no time. PRESENTED BY:- INDU BHUSHAN PRASAD(52) 2. Definition A cooperative is defined as an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise. We hope the given NCERT MCQ Questions for Class 11 Business Studies Chapter 2 Forms of Business Organisation with Answers Pdf free download will definitely yield fruitful results. So there is complete democratic setup in the management and all the decisions are taken by the members of the society on the basis of majority. Features of Co-operative Society. The society aims at eliminating middlemen to … The revision notes … - Co-operative Society. Consumer Cooperative Societies - definition. | EduRev Class 11 Question is disucussed on EduRev Study Group by 166 Class 11 Students. Definition of Society : Society is a web of social relationship. Profits are not earned at the cost of its members. It does not get affected by the entry or exit of its members. Free membership: An individual of the age of majority of the same locality, or class may be member of a cooperative society on the basis of consent of the members. The main characteristics of the statutory corporation are: 1. Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. COOPERATIVE SOCIETY 2. (a)Registeration: Cooperative societies are registered under the cooperative societies Act 1912. prasanna August 1, 2016, 10:30am #1. AcQ 6 of 1974. Cooperative society is a special form of organization. 1.0.1 Compare the status of a minor in a Joint Hindu Family Business with that in a partnership firm. Download Non-Cooperation Movement notes PDF for IAS Exam. In this revision notes of Class 11 CH 2 Business Studies by Vedantu, students will understand the merits, demerits and various characteristics of each type of Organisation. Features: Voluntary association: Everyone having a common interest is free to join a cooperative society and can also leave the society after giving proper notice. A cooperative society is a group of individuals who have specific common needs.It is an economic enterprise,the purpose of which is to improve the economic status of owners or members.Most cooperative societies offer their products to their members and others do not serve non-members. The features of cooperative organization are: Open membership: The membership of a Co-operative Society is open to all those who have a common interest. Cooperative organisation is a society which has its objectives for the promotion of economic interest of its members in accordance with cooperative principles’. The co-operative society is a separate legal identity to the society. CO-OPERATIVE SOCIETY MADE BY – S.GOKUL CLASS - XI-D ROLL NO - 32 2. The Cooperative Society 2020 Report addresses the question of whether or not the world is moving toward a new stage of human history, one characterized by cooperation and equitable access to resources rather than by conflict and extreme inequality. It differs from other major forms of organizations as it in set up not to earn profit but to render services to its members. Learn the concepts of Class 11 Business Studies Forms of Business Organisations with Videos and Stories. Cloudflare Ray ID: 608734d93dab0b5f The consumer cooperative societies are formed to protect the interests of consumers. When dealing with business on a fairly large scale, a joint stock company is the most suitable form of business organisation. 11. Every member of the cooperative society is liable on the basis of their share. Law 46 of 1957. It differs from other major forms of organizations as it in set up not to earn profit but to render services to its members. All the t activites of the organisation are run according to the provision of this Act. Distribution of Surplus: Every co-operative society in addition to providing services to its members, also generates some profit while conducting business. Features. 11 Examples of Consumer Society posted by John Spacey, July 12, 2019. Let us see why. 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