NECO Book Keeping 2015 Objective — Question 10
Question 10 of 40 from the National Examinations Council (NECO) Book Keeping 2015 Objective paper, with the correct answer and a full explanation.
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An advantage of cooperative society is that
- A. decision making is quicker
- B. profit is exempted from taxCorrect
- C. it is highly regulated
- D. it can issue shares to the public
Explanation
Cooperative societies often enjoy tax exemptions on their profits/surplus, which is an advantage of this form of business organisation.
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