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WAEC Commerce 2023 Question 9

Question 9

Co-operative Societies

A source of capital to a cooperative society is

  1. A.contribution
  2. B.debenture
  3. C.ordinary share
  4. D.retained profit.
Show the answer and explanation

Answer: A (contribution)

Explanation

A cooperative's capital comes mainly from its members' contributions; it cannot issue debentures or ordinary shares to the public.