Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you help me match the rules with the correct cooperative terms? A 1. Access to book and copy excerpts from cooperative records a. Social

Can you help me match the rules with the correct cooperative terms?

image text in transcribed
A 1. Access to book and copy excerpts from cooperative records a. Social Audit 2. At least 10%% of net surplus, used to stabilize cooperative and meet net loss in operation b. Subscription Agreement 3. Review of the cooperative performance in relation to its Social development plans and budget c. Revolving Capital Build-Up 1. Procedure for cooperative to assess social and ethical performance to its Vision, Goals and Social Mission d. Common Share Capital 5. Requires the holding of such for not less than one (1) year prior to transfer c. Capital . Document executed upon admission of members to the cooperative : Social Performance Assessment 7. Rate should not exceed the normal rate of return on investment and it is non-cumulative 5. Interest on Share Capital 4. Imposed on unpaid subscribed share capital h. Capital Reserve Fund P. Refers to the amount of and source of money to start and operate a cooperative Shares 10. Allowing a portion of each year's income to be used to redeem oldest patronage-based equity Assignment of Share Capital 1 1. It is issued only to regular members, and receives interest at rate allowed by the Cooperative Development Authority k. Right to Examine Records 12. Preservation of records as precaution to prevent its loss, destruction or falsification Safety of Records 13. It is conducted by external auditor that must possess qualifications imposed by PICPA and CDA m. Limit to Capital Holdings 14. Unit of capital the par value of which is fixed at any figure not more One thousand [P1,000) pesos. n. Fines 15. Prohibition in holding or owning more than ten per centum (10:) of cooperative share capital. a. Financial Audit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Employment Law For Business

Authors: Dawn Bennett Alexander, Laura P Hartman

6th Edition

978-0073377636, 73377635, 978-0077347383

More Books

Students also viewed these Law questions

Question

To solve p + 3q = 5z + tan( y - 3x)

Answered: 1 week ago