Skip to main content

The Cooperative Society And Characteristics

The Cooperative Society is the group of persons or institutions that come into existence to offer various services to its members. One who cannot benefit in his individual capacity can gain as a member of cooperative society, since it purchases in bulk quantities resulting in economies a part of which is shifted to its members. Thus the members can buy at prices less than the market.

CHARACTERISTICS:
• The society is formed on mutual cooperation.

• Every member is required to pay an annual fee.

• Societies may be registered.

• Members must pay service charges.

• It is run on no profit, no loss gain basis.

• The profit, if made, is distributed to the members.

• Societies are formed in the fields of banking, housing, farming, fishing, credit, and others.

• Registered societies must use the word “limited” following their names.

ADVANTAGES OF COOPERATIVE SOCIETIES
Following are the advantages of Cooperative Societies.

CONTINUITY
The cooperative societies enjoy a long and stable life. Like a company, it doesn’t come to an end in case its founders or member die.

LOW PRICES
Since it is operated on and no-profit no-loss basis the price of the product offered for sale are kept at a lower level than that of the market.

LOANS

L
oans are offered to agriculturists to facilitate them to buy seeds, fertilizers, tractors, and hire warehouses.

HOUSE LOANS
Many cooperative societies are formed in the field of housing and advance loans to the members to build, renovate, and buy houses at a lower rate of interest than the bank.



DISADVANTAGES OF COOPERATIVE SOCIETIES
Following are the different disadvantages of Cooperative Societies.

FEE PAYMENT
The members of the society must pay a certain amount as a fee on annual basis which becomes cumbersome to them. If the society is unable to make any profit the amount of fee is un refundable.

UNLIMITED LIABILITY
Society can be run without registration under society’s act 1912. In such a cases, the liability of the members becomes unlimited.

PAYMENT OF SERVICES CHARGES
Members of the society must pay service charges to finance the day-to-day expenses of the society.  These charges are refunded when it earns profit. 

DIFFERENCES OF OPINION
Differences of opinions in running the society may lead to its dissolution just like the partnership.

Comments

Popular posts from this blog

Free Download Notes XI & XII Commerce Notes & Book In Pdf

Free Download Notes XI & 1st Year Notes Download In Pdf XI Accounting Book  Economics Notes Pdf Free Download Urdu Notes for 1st Year (Class 11)  Another Urdu Notes For XI  Islamiat For XI  Principle Of Commerce 1st year XI POC Notes (Best) Server 01 XI POC ( Principle of Commerce ) Guess Paper Solved 2021 Free Download Notes  XII Commerce Notes & Book In Pdf XII Accounts Book With Solutions 2nd-year Urdu Notes Free Download Pdf XII English Notes Pdf 2nd Year English Notes Adam jee  2nd Year Commercial Geography  2nd Year Pak Studies Notes XII Pak Studies Notes In English Adam Jee XII Pak Studies Solved Paper XII Banking Notes (Shah Commerce) Another 2nd Year Banking Notes XII  CG Solved Papers Commerce Online Notes By Sir sultan hamid hussain (All credit goes to Sir Sultan) Server 01 Commercial Geography Notes In English By Sir Sultan Server 01 Commercial Geography Notes Notes In Urdu By Sir Sultan Server 01 XII Banking Notes Short Q

Questions And Answers The Count’s Revenge By J.H.Walsh

THE COUNT’S REVENGE (J.H.WALSH) Q: 1 What Arab custom is referred in the short play “The Count’s Revenge”? An Arab custom mentioned by the Countess of Morcerf to Albert and the Count of Morcerf when the count of Monte Cristo leaves their house without eating anything. The custom runs as “Never to eat food at the house of a deadly enemy”. She strongly believes that since the Count of Monte Cristo has a faith in that custom and thinks them to be his enemy, and hence not eat anything at their place.   Q: 2 What do you know about the reaction, plans or intention of Albert? Albert, the brave young son of the count of Morcerf, was deeply shocked by the disgrace of his father and family. As a man of honour, he showed severe emotional reaction to the unhappy incident. Albert made his mind to trace about the unknown enemy of his family and avenge the family honour. On his request, Beauchamp, a close friend of Albert, discovered the name of the enemy. It was Albert;s

English Essay Problems of Karachi

Problems of Karachi Karachi is the biggest city in Pakistan and one of the most thickly populated cities in the world. Its population has increased rapidly and accordingly has given rise to many social problems. People of this metropolis are becoming more and more concerned about solving these serious problems, some of which are discussed below. The ever-increasing rush of heavy traffic on the roads is resulting in heavy loss of human life. One day or the other, people suffer from accidents due to reckless driving. Some lose their vehicles and some go to the police. This is due to lack of civic sense in the citizens and violation of traffic rules. Traffic jams, road quarrels, untidiness and damage of public property are also the results of this problem. The government has not done any planning to control this situation in the past two decades. In the same manner, the government has never emphasized upon population distribution. As a result, slum areas are rapidly being built, wher

Short Questions Answers of The Prisoner of Zenda ~Drama Novel Prisoner of Zenda

 N OVEL Question 1)Tell in your own words how the first meeting came off between the two distant cousins? Answer) Rudolf leaves the inn one day as he is given an opportunity to stay at Jahan’s sister at Strelsau. Instead of going, he decides to walk through the forest and have a look at the castle of Zenda. He sits down in the forest to have some rest as well as smoke a cigar. After smoking his cigar, he unintentionally falls asleep. Shouts and sound of laughter wake him up. On opening his eyes, he sees two men standing near him. They are Fritz Von Tarlenheim and Colonel Sapt. They tell him that he looks exactly like their king except that he has a beard. At that moment King Rudolf appears. Rassendyll greatly surprises to see king Rudolf in the forest of Zenda. He gives a cry when he finds that Rudolf is just like him. Rudolf’s face and appearance are quite like his own. Rudolf’s height appears to be slightly less than his. Rassendyll bows respectfully before the king. In a happy m