FBQ1: ________ lifestyle is characterized by constant movement of family, homestead and economy of the producer
Answer: Nomadic
FBQ2: The president is NOT a signatory to society’s account. TRUE OR FALSE 
Answer: FALSE
FBQ3: Members of cooperatives are not involved in the management of the cooperative. TRUE OR FALSE
Answer: False
FBQ4: Co-operatives ____________ is a result of inner conviction
Answer: Spirit
FBQ5: There are ______ types of price effect
Answer: Two
FBQ6: Determining the Cooperatives ________demands a consideration of at least two business periods
Answer: Effect
FBQ7: A rural co-operative operates in a ______area
Answer: rural
FBQ8: Members are responsible for creating cooperative department. TRUE OR FALSE
Answer: False
FBQ9: __________________ funds are for contingencies or unforeseen circumstances
Answer: Reserve funds
FBQ10: _________ are big organizations whose shares are publicly quoted in the Nigeria Stock Exchange
Answer: Public limited companies
FBQ11: _______ is functionally a regional cooperative
Answer: Secondary cooperative
FBQ12: The cooperative management ______ shows the members as constituting the base or the foundation of the management team.
Answer: Triangle
FBQ13: Co-operatives with ___________in which case the liability of the member is not limited to any specific amount and each member can be held for all the outstanding debts of the society.
Answer: unlimited liability
FBQ14: Reserves are for short-term basis. TRUE OR FALSE
Answer: False
FBQ15: Cooperative effect is ______when the total level of satisfaction after becoming a Cooperator is higher than the total level of satisfaction before becoming a member of the Co-operatives.
Answer: Positive
FBQ16: In _________ economy the attitude of the prospective members of the Co-operatives is in the market
Answer: Market
FBQ17: External pressure has no influence people to join a cooperative society. True or false
Answer: False
FBQ18: Government can give out loans to Co-operative TRUE OR FALSE?
Answer: FALSE
FBQ19: ____________ is needed for everyday uses to keep the business going
Answer: Operating
FBQ20: Once a Society has been registered under the law, it has CANNOT sue and be sued. TRUE OR FALSE
Answer: False
FBQ21: The most important role of __________ in Co-operative affairs is Legislative role
Answer: Government
FBQ22: ___________ manages the day to day activities of the secretariat
Answer: Secretary
FBQ23: All transactions of the Co-operatives do NOT need to be recorded in the books of account. TRUE OR FALSE
Answer: False
FBQ24: _____________ signs cash book and when asked to do so, produces the cash balance
Answer: Treasurer
FBQ25: The ___________________represents the Society at all meetings both within and outside the country.
Answer: President
FBQ26: ___________ cooperatives are producers of goods and/or services
Answer: Producer
FBQ27: __________ are Co-operatives in the service sector
Answer: Service
FBQ28: __________ is a result of joint action by a number of independent primaries and/ or secondaries and/or tertiaries
Answer: Federation
FBQ29: In cooperative, shareholding is to ________ person
Answer: One
FBQ30: ____________cooperatives are smallest individuals units in the set up they cover limited area of operation
Answer: Primary
FBQ31: __________________  are societies usually formed by fishermen
Answer: Fishermen Co-operative Society
FBQ32: Co-operatives with liability limited by ______, is when the joint liability of the member in the event of liquidation is limited to the value of shares held by the member
Answer: Shares
FBQ33: Union Bank of Nigeria Plc is an example of _________
Answer: Public limited companies
FBQ34: ________ is the type of co-operatives where the members have decided to leave all aspects of decision making to management
Answer: Integrated
FBQ35: Owned capital is different from borrowed capital because it is obtained from __________
Answer: Inside the cooperative
MCQ1: There are ________ types of reserve funds
Answer:  Two (2)
MCQ2: ________ takes minutes at all meetings
Answer: Secretary
MCQ3: _____are funds that are created  as a form of security against any unforeseen circumstance
Answer: Reserves
MCQ4: Voting in cooperative is based upon
Answer: membership
MCQ5: ________ reasons constitute the major motive why people join or form Cooperative
Answer: Economic
MCQ6: Some of the common problems faced by agricultural cooperatives in developing countries include the following except
Answer: poor management
MCQ7: A true cooperative is one that
Answer:  provides service at cost.
MCQ8: _______ of the board are called the Co-operative
Answer: Officers
MCQ9: A ________purpose Co-operative is the one that has more than one field of activity
Answer: Multi
MCQ10: ____________ emphasizes the supremacy of the Co-operatives over everything else
Answer: Cooperative spirit
MCQ11: _________is the relationship between a Co-operatives organization as a business entity and members’ private business enterprise or household economy
Answer: Cooperative nexus
MCQ12: ____________ is the degree of extra satisfaction, which a member derives as a result of participating or being a member of the Co-operatives compared to being a non – member
Answer: Cooperative effect
MCQ13: _______ is a signatory to the Society’s accounts
Answer: President
MCQ14: ____________ effect occurs when the total of satisfaction before becoming a member of the Co-operative is higher than the total level of satisfaction after becoming a member
Answer: Negative
MCQ15: _________cooperatives are sometimes they are called National Co-operatives
Answer: Tertiary
MCQ16: ­­­­­­­­­­­­­­­­­________are big organizations whose shares are publicly quoted in the Nigeria Stock Exchange.
Answer: Public limited company
MCQ17: _________ is in charge of all money received by the society from members and other sources.
Answer: treasurer
MCQ18: Different levels of economic development take _______ extreme forms
Answer: Two (2)
MCQ19: ______ are formed mostly by primary Co-operatives
Answer: Secondary
MCQ20: __________are the life-wire of a Co-operative organization
Answer: Byelaws
MCQ21: Members are also known as the_________ of the co-operative
Answer: General Assembly
MCQ22: ________ is characterized by constant movement of family, homestead and economy of the producer
Answer: Nomadic
MCQ23: ________ is the type of co-operatives where the members have decided to leave all aspects of decision making to management
Answer: Integrated
MCQ24: ___________ is a feature of a cooperative
Answer: Voluntary and open membership
MCQ25: Those  items that often remain in the service of the Co-operative over a long period of time are called ____________ capital
Answer: fixed
MCQ26: Through the directive of the president, ____summons all meetings
Answer: Secretary
MCQ27: _________ reserves  are regulated by members taking into consideration their needs and circumstances
Answer:  Voluntary
MCQ28: ______ type of capital that is not consumed in the actual operation of the co-operatives
Answer: Fixed
MCQ29: Secondary cooperatives are sometimes called _______ Co-operatives
Answer: regional
MCQ30: There are  ______ types of producer cooperatives
Answer: Two (2)
MCQ31: The following are common business objectives except_______
Answer: To embezzle funds
MCQ32: Co-operatives are not _________
Answer: trade unions
MCQ33: Democratic control of cooperative is controlled by members themselves through one (1) man, ____ vote
Answer: One (1)
MCQ34: The ______ needs constitute those unfilled desires that lend to drive people into the brink of despair and hopelessness
Answer: Felt
MCQ35: In the _____________ type of business risks are not shared
Answer: Sole proprietorship

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