Question FBQ1 : Voluntarism is the main tenet of modern acts of __________ Answer: Co-operation Question FBQ2 : Reserves are available on secured short – term basis. TRUE OR FALSE Answer: False Question FBQ3 : Self-help organizations refer to the traditional _______ institutions, which exist in every community. Answer: co-operative Question FBQ4 : Borrowed capital does not bear risk. True or False Answer: True Question FBQ5 : The co- operatives are owned by___________ Answer: Members Question FBQ6 : Members constitute the _________ assembly Answer: general Question FBQ7 : The cooperative management triangle shows the members as constituting the _________ of the management team. Answer: Base Question FBQ8 : Essentialist attempts to define co-operatives in terms of values, ideologies and overall _________ and social goals Answer: Economic Question FBQ9 : Members of cooperatives have no rights and privileges in taking an active part in the management of the cooperative. TRUE OR FALSE Answer: FALSE Question FBQ10 : Reserve funds are for ___________circumstances Answer: contingencies Question FBQ11 : _________organizations are also referred to as Traditional cooperatives institutions Answer: Self- help Question FBQ12 : Operating capital is needed for __________ uses to keep the business going Answer: Everyday Question FBQ13 : Norminalist approach to cooperative definition attempts to select ______ elements of organization present to all institutions Answer: Structural Question FBQ14 : The treasurer is a signatory to society’s account. TRUE OR FALSE Answer: TRUE Question FBQ15 : Co-operatives business is controlled by _______ themselves through one (1) man, one vote Answer: Members Question FBQ16 : ___________ manages the day to day activities of the secretariat Answer: Secretary Question FBQ17 : Members are responsible for creating cooperative department. TRUE OR FALSE Answer: False Question FBQ18 : Sole proprietorship is a _____________ man business Answer: One Question FBQ19 : Government can give out loans to Co-operative Answer: TRUE Question FBQ20 : In _____________ business the success and failure of the business are squarely on one person shoulder Answer: Sole-proprietorship Question FBQ21 : The legislative role of Co-operative affairs is the responsibility of Answer: Government Question FBQ22 : At least two persons must come together to establish _____________ business Answer: Partnership Question FBQ23 : External pressure can NOT influence people to join a cooperative society. True or false Answer: False Question FBQ24 : Most ____________ company started as a family business Answer: Private limited Question FBQ25 : ____________ is the capital raised from the other resources Answer: Borrowed capital Question FBQ26 : ____________are big organizations whose shares are publicly quoted in the Nigeria Stock Exchange. Answer: Public limited company Question FBQ27 : Apex are functionally specialized ______________ Cooperative Answer: National Question FBQ28 : _____________are organizations usually established by Government through Act of parliament and similarly authority Answer: Public corporation Question FBQ29 : There are __________ types of cooperatives based on function performed Answer: Two Question FBQ30 : Sedentary lifestyle is characterized by ______________ abode in specific settlements Answer: fixed Question FBQ31 : Public corporations organizations are usually formed because ________________ individuals may not be able to finance them Answer: private Question FBQ32 : Auxillary cooperatives take over only some functions such as the supply of goods, loans and ______________ Answer: Credit Question FBQ33 : In subsistence economy the output of business enterprises is mainly for domestic ______________ Answer: Consumption Question FBQ34 : Determining the Cooperatives effect demands a consideration of at least _______________business periods Answer: Two Question FBQ35 : Cooperatives can be classified into ---------------- and -------------- based on legal status Answer: Registered and unregistered Question FBQ36 : Unregistered co-operatives which are co- operatives that have not been fully registered and _______________ Answer: Operating Question FBQ37 : A rural Co-operatives, which operates in an ____________area Answer: rural Question FBQ38 : Cooperative effect is positive when the total level of satisfaction after becoming a Cooperator is ______________ than the total level of satisfaction before becoming a member of the Co-operatives. Answer: Higher Question FBQ39 : Primary cooperatives are sometimes called _____________ cooperatives Answer: local Question FBQ40 : Secondary cooperatives are mostly formed by a number of _____________ Co-operatives Answer: primary Question FBQ41 : Government intervention in cooperatives may have both -------------- and ------------- consequences Answer: Positive and negative Question FBQ42 : Secondary cooperatives are sometimes called ______________ Co-operatives Answer: Regional Question FBQ43 : ______________ enlightenment is an example of educational effect Answer: Member Question FBQ44 : _____________are co-operatives occupying the first layer Answer: primary Question FBQ45 : _______________ reasons constitute the major motive why people join or form Cooperative Answer: Economic Question FBQ46 : There are ____________ types of cooperative effect Answer: Eight Question FBQ47 : Placing the co-operatives society and its interests over and above that of the individuals that make up the co-operatives is called _____________ Answer: Cooperative spirit Question FBQ48 : Co-operatives ____________ is a result of inner conviction Answer: Spirit Question FBQ49 : Tertiary cooperatives are sometimes they are called ___________ Co-operatives Answer: National Question FBQ50 : A _____________ can be referred to as any coming together of primary co-operatives to form another common body Answer: Secondary Question MCQ1 : Working type of capital that is _______ in the actual operation of the Co- operatives Answer: Consumed Question MCQ2 : ________ takes minutes at all meetings Answer: Nexus Question MCQ3 : Co-operatives ____________ is a result of inner conviction Answer: Short Question MCQ4 : Primary cooperatives are mostly formed by a number of ______ Co-operatives Answer: Secondary Question MCQ5 : _________is capital raised outside the Co-operative Answer: borrowed Question MCQ6 : Determining the Cooperatives effect demands a consideration of at least ______ business periods Answer: Two (2) Question MCQ7 : An urban Co-operatives, which operates in an ______area Answer: urban Question MCQ8 : ________ reserves are created irrespective of members’ feelings Answer: Statutory Question MCQ9 : Primary cooperatives are sometimes called local cooperatives or _________ Answer: Apex Question MCQ10 : Cooperative spirit emphasizes the supremacy of the ________ over everything else Answer: Cooperatives Question MCQ11 : Cooperative nexus is the relationship between a_________ as a business entity and members’ private business enterprise or household economy Answer: Co-operatives organization Question MCQ12 : _________is the main tenet of modern acts of cooperation Answer: Voluntarism Question MCQ13 : _______ is a signatory to the Society’s accounts Answer: President Question MCQ14 : ____________ effect occurs when the total of satisfaction before becoming a member of the Co-operative is lower than the total level of satisfaction after becoming a member Answer: positive Question MCQ15 : Tertiary cooperatives are sometimes called ______ Co-operatives Answer: National Question MCQ16 : ­­­­­­­­­­­­­­­­­________is a one man business Answer: Sole proprietorship Question MCQ17 : Treasurer is in charge of all ________ received by the society from members and other sources. Answer: Money Question MCQ18 : __________are also known as traditional co-operative institutions Answer: Self- help organization Question MCQ19 : Tertiary are formed mostly by _______ Co-operatives Answer: Secondary Question MCQ20 : ___________ is a long term capital Answer: Fixed Question MCQ21 : _________ are also known as the General Assembly of the co-operative Answer: Members Question MCQ22 :

Nomadic is characterized by constant ________ of family, homestead and economy of the producer Answer: movement Question MCQ23 : Integrated is the type of co-operatives where the members have decided to leave _______ aspects of decision making to management Answer: All Question MCQ24 : Partnership is an improvement on the ________________ Answer: Sole proprietorship Question MCQ25 : Those items that often ________ in the service of the Co-operative over a long period of time are called fixed capital Answer: Remain Question MCQ26 : Through the directive of the __________,secretary summons all meetings Answer: President Question MCQ27 : _________ reserves are regulated by members taking into consideration their needs and circumstances Answer: Voluntary Question MCQ28 : Auxiliary cooperative is sometimes referred to as ___________ Answer: Service Question MCQ29 : ___________ cooperatives are sometimes called regional Co-operatives Answer: Secondary Question MCQ30 : A co-operative society is the following except Answer: Unlimited returns on equity capital. Question MCQ31 : _______ is a common business objective Answer: To make profit Question MCQ32 : Co-operatives are _________ Answer: Controlled democratically Question MCQ33 : Sponsor share is_________ person participation Answer: Third Question MCQ34 : The ________ are owned by members Answer: co-operatives Question MCQ35 : In the _____________ type of business risks are not shared Answer: Sole proprietorship Question MCQ36 : Share capital is the money contributed by _____ Answer: members Question MCQ37 : __________________ funds are for contingencies or unforeseen circumstances Answer: Reserve Question MCQ38 : Working capital is also called ___________ Answer: Operating Question MCQ39 : The output of __________business enterprise is mainly for export purposes Answer: Cash crop Question MCQ40 : The cooperative management ______ shows the members as constituting the base or the foundation of the management team. Answer: Triangle Question MCQ41 : There are__________ kinds of cooperative effects Answer: Eight (8) Question MCQ42 : 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 Question MCQ43 : _________are organizations usually established by Government through Act of parliament and similarly authority Answer: Public corporation Question MCQ44 : In _________ economy the attitude of the prospective members of the Co-operatives is in the market Answer: Market Question MCQ45 : ____________ is needed for everyday uses to keep the business going Answer: Operating Question MCQ46 : The most important role of __________ in Co-operative affairs is Legislative role Answer: Government Question MCQ47 : ___________ manages the day to day activities of the secretariat Answer: Secretary Question MCQ48 : ___________ cooperatives are producers of goods and/or services Answer: producer Question MCQ49 : __________ are Co-operatives in the service sector Answer: Service Question MCQ50 : In cooperative, shareholding is to ________ person Answer: One (1)