WAEC Commerce 2017 Theory — Question 7
Question 7 of 16 from the West African Examinations Council (WAEC) Commerce 2017 Theory paper, with the correct answer and a full explanation.
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4(a) State five merits of co-operative societies
Model answer
Merits of cooperative society: - a cooperative society is easy to formulating as much documentation is not required compared with other business organisation. - it has an assured going concern - it has limited liability - the management of cooperative society is democratic - it provides members easy access to loan with little or no interest.
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