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JAMB Economics 2000 Question 24

Question 24

Business Organisations

A distinguishing characteristic of cooperative societies is that voting power depends on the

  1. A.number of shares held
  2. B.status of the member
  3. C.equality of members
  4. D.management's decision.
Show the answer and explanation

Answer: C (equality of members)

Explanation

Co-operatives follow 'one member, one vote', whatever the number of shares held, because all members are equal.