WAEC Book Keeping 2025 Objective — Question 10

Question 10 of 42 from the West African Examinations Council (WAEC) Book Keeping 2025 Objective paper, with the correct answer and a full explanation.

An advantage of a 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 generally enjoy tax exemption on their profits/surplus, which is a key advantage over other forms of business organisation.

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