Topics: Animal Refresher, Veterinary Extension Education

Principles on Which Cooperative Works

Question

Cooperative works on the principle of:

Select an answer

Cooperative works on the principle of:

  1. All are correct — Correct Answer
  2. Voluntary association only
  3. Democratic control only
  4. Equitable division of surplus only
Explanation:
Correct Answer: All are correct

A Cooperative works on all three principles: Voluntary association, Democratic control, and Equitable division of surplus (patronage dividend).

Rochdale Principles of Co-operation (7 Principles)
  1. Democratic control
  2. Open membership
  3. Limited interest on capital
  4. Patronage divided (equitable division of surplus)
  5. Cash trading
  6. Political and religious neutrality
  7. Promotion of education
Reformulated Principles of Co-operation
  • Essential principles: Open membership, Democratic management, Limited interest on capital, Payment of dividend in proportion to transactions
  • Non-essential principles: Religious and political neutrality, Cash trading, Education of members
Key Definitions
  • Co-operation: 'Working together'
  • Co-operative society: Voluntary democratic association of persons for their common benefits
  • Rochdale Principles were given by Charles Howarth

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This multiple choice question is from Animal Refresher, Veterinary Extension Education. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from Animal Refresher to strengthen your preparation.

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