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JAMB Commerce 1994 Question 27

Question 27

Co-operative Societies

Which of the following is both direct and indirect credit enterprise?

  1. A.co-operative and thrift society
  2. B.retail co-operative society
  3. C.consumer co-operative society
  4. D.wholesaler co-operative society.
Show the answer and explanation

Answer: A (co-operative and thrift society)

Explanation

A thrift and credit co-operative gives loans to members directly and also helps them obtain credit from other lenders.