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JAMB Commerce 2007 Question 15

Question 15

Co-operative Societies

A major advantage of a cooperative society is that it

  1. A.gives members the opportunity to unite
  2. B.draws members closer to government
  3. C.promotes awareness among members
  4. D.encourages thrift among members.
Show the answer and explanation

Answer: D (encourages thrift among members.)

Explanation

Cooperative societies, especially thrift and credit ones, encourage members to save regularly.