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WAEC Commerce 2005 Question 7

Question 7

Co-operative Societies

The distribution of profits based upon the level of patronage in the business is a common feature of

  1. A.partnership firms
  2. B.public limited companies
  3. C.co-operative societies
  4. D.private limited companies
Show the answer and explanation

Answer: C (co-operative societies)

Explanation

Co-operatives share surplus according to members' patronage.