MCQ on Cooperative Society:

• The literal meaning of the word cooperative is to work together i.e. such persons who work together for the same economic purpose can form a cooperative society, this is called a cooperative society.
• Co-operative society is a type of organization in which individuals, on the basis of their will, collect and maximize their resources for economic benefit, get profit and share it among themselves.
• The cooperative movement in India started with the establishment of the Co-operative Credit Society by Frederick Nicholson in 1904. Today its scope has become very wide.
• This provision has been made in Article 243 of Part 9 (b) of the Constitution of India.
• It is a voluntary organization, in which any person can become a member at any time and can also leave the membership voluntarily.
• Membership of a co-operative society is open to all persons having common interests and objectives, besides membership is not restricted on the basis of gender, varna, caste and religion.
• The main object of a co-operative society is to serve although it can also get reasonable profits and a member has only one right to vote, no matter how many shares he has.

Multiple Choice Questions on Cooperative Society: 

1. What is cooperative society?

(1) Cooperative societies are formed with the aim of helping their members. 

(2) Cooperative societies type of business organisation is formed mainly by weaker sections of the society in order to prevent any type of exploitation from the economically stronger sections of the society.

(3) An autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned enterprise. 

(4) All of these 

Answer: 4

2. What is the main objective of cooperative society?

(1) They aim to provide goods and services. 

(2) They aim to eliminate the unnecessary profits of middlemen in trade and commerce. 

(3) They seek to prevent the exploitation of the weaker members of society.

(4) All of these 

Answer: 4

3. Who regulates the registration and other activities of a cooperative society?

(1) NABARD

(2) SBI

(3) SEBI

(4) RCS

Answer: D

4. In India, the Co-operative Societies Act was passed in which year?

(1) 1919

(2) 1949

(3) 1904

(4) 1912

Answer: 4

5. Who inspects cooperative societies?

(1) The Central Registrar

(2) Central Government 

(3) The Members 

(4) None of these 

Answer: 1

6. Which is the first cooperative bank in India?

(1) Anyonya Co-operative Bank Limited

(2) Bank of Maharashtra 

(3) Sate bank of India

(4) Indian Bank

Answer: 1

7. Which is the largest cooperative society in India?

A. IFFCO

B. Agricultural Credit Cooperative Society,

C. Grant Road Society

D. None of these 

Answer: A

8. Which was the first cooperative society registered_______

(1) Agricultural Credit Cooperative Society, 1905

(2) Grant Road Society, 1914

(3) Madras Cooperative Union, 1914

(4) None of the above

Answer: 1

9. The principle followed in a co-operative society is________

(1) No vote

(2) One man, one vote

(3) Multiple votes

(4) only females can vote

Answer: 2

10. What are the sources of cooperative?

(1) members’ contributions, 

(2) subscription fees, 

(3) interest on loan

(4) All of these 

Answer: 4

11. Which of the following are Non-Agricultural Credit Societies?

(1) Cooperative Banks

(2) Thrift & Credit Societies

(3) Salary Earners Society

(4) All of the above

Answer: 4

12. What are the types of cooperative society?

(1) Producer Cooperative.

(2) Consumer Cooperative.

(3) Marketing Cooperative Society.

(4) Housing Cooperative Society.

(4) All of these 

Answer: 5

13. Which of the following is the principles of cooperative?

(1) Open and Voluntary Membership. 

(2) Democratic Member Control.

(3) Members’ Economic Participation.

(4) All of these 

Answer: 4

14. The members of a Co-operative Society have

(1) Unlimited liability

(2) Limited liability

(3) Joint and Several liability

(4) Joint liability

Answer: 2

15. Who introduced cooperative society in India?

(1) Jawaharlal Nehru

(2) Indira Gandhi 

(3) Moraraji Desai

(4) None of these 

Answer: 1

16. What are the feature of cooperative society?

(1) To encourage thrift and savings mobilization among the members: 

(2) To generate funds and extend credit to the members for productive and 

provident purposes; 

(3) To encourage among members systematic production and marketing.

(4) All of these 

Answer: 4

17. Which of the following is not a feature of cooperative society______

(1)  To provide goods and services and other requirements to the members; 

(2) To develop expertise and skills among its members; 

(3) To promote self economic growth by capital market.

(4) To acquire lands and provide housing benefits for the members.

Answer: 3

18. Which is the largest cooperative society in the world?

(1) CrŽdit Agricole Group France

(2) Groupe Caisse D’Epargne France

(3) Zen-Noh (National Federation of Agricultural Co-operatives)

(4) None of these 

Answer: 1

19. Which is the best cooperative society in India?

(1) Amul.

(2) Indian Coffee House.

(3) Indian Farmers Fertilizer Cooperative Limited (IFFCO)

(4) All of these 

Answer: 4