The Co-operative Societies Act, 1925 MCQs – Chapter IV – Duties of Societies

1. : Under the Co-operative Societies Act, 1925, every registered society is required to:
(A) Maintain proper accounts and books of record
(B) Pay income tax on behalf of members
(C) Provide free housing to members
(D) Operate like a private company

2. : Societies must submit their annual statements and returns to:
(A) The Registrar of Co-operative Societies
(B) Federal Ministry of Finance
(C) High Court
(D) District Magistrate

3. : The audit of accounts of a co-operative society is carried out by:
(A) The Registrar or a person authorized by the Registrar
(B) Any private company chosen by members
(C) Central Board of Revenue only
(D) District Police Officer

4. : If a society fails to fulfill its statutory duties under the Act, the Registrar may:
(A) Cancel its registration
(B) Increase its share capital
(C) Merge it with a private company
(D) Transfer its assets to members directly

5. : Co-operative societies are required to keep members informed through:
(A) Regular general meetings and reports
(B) Secret management decisions
(C) Private notices to only committee members
(D) Orders from courts

6. : The society’s duty regarding funds and property includes:
(A) Safe custody and use only for authorized purposes
(B) Investment in speculative trade
(C) Distribution to non-members
(D) Transfer to government treasury directly

7. : Under the Act, the society must follow:
(A) Its by-laws and rules approved by the Registrar
(B) Only directions from private investors
(C) Company laws of 2017
(D) International trade laws

8. : The annual general meeting of a co-operative society is meant to:
(A) Review accounts, elect management, and decide important matters
(B) Celebrate festivals
(C) Only discuss politics
(D) Approve housing schemes for government officials

9. : The duty of co-operative societies towards members includes:
(A) Ensuring transparency, accountability, and equal treatment
(B) Providing profits to outside investors
(C) Following orders of private companies
(D) Reducing participation of ordinary members

10. : Chapter IV – Duties of Societies in the Co-operative Societies Act, 1925 mainly deals with:
(A) Maintenance of accounts, audit, reporting, and general obligations of societies
(B) Rights and liabilities of members
(C) Registration procedures only
(D) Dissolution of societies