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WAEC Commerce 2004 Question 6

Question 6

Co-operative Societies

In which of the following business units are profits shared on the basis of membership patronage?

  1. A.public enterprise
  2. B.partnership
  3. C.co-operative society
  4. D.public limited liability company
Show the answer and explanation

Answer: C (co-operative society)

Explanation

Co-operatives share surplus by patronage.