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: 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.
