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Quizzer
1.
An autonomous association of persons united voluntarily to meet their common
economic, social, and cultural needs and aspirations through a jointly-owned
and democratically-controlled enterprise
o A.
Government
o B.
Cooperative
o C.
Union
2.
Check the three basic interests of business.
o A.
Ownership
o B.
Manager
o C.
Control
o D.
Supervise
o E.
Beneficiary
3.
Cooperatives are owned, managed, and patronized by _______.
o A.
Members
o B.
Manager
o C.
Proprietor
4.
Cooperatives serve best when they answer the needs of the_______.
o A.
Members
o B.
Manager
o C.
Proprietor
5.
Check the COOP PRINCIPLES & PRACTICES
o A.
o B.
o C.
For Lending and Credit
6.
In Cooperatives, membership is forced.
o A.
True
o B.
False
7.
In cooperatives, the members are the owners of the business.
o A.
True
o B.
False
8.
Check the cooperative values.
o A.
Self-help
o B.
Self-responsibility
o C.
Democracy
o D.
Autocratic
o E.
Business-minded
9.
One of the purposes of Cooperative is to encourage _________.
o A.
o B.
o C.
10.
A type of coop that caters lending services.
o A.
Credit Coop
o B.
Consumers Coop
o C.
Producers Coop
o D.
Multi-purpose coop
11.
A type of coop that is formed by farmers to save money selling of crop and other
products of farmers
o A.
Credit Coop
o B.
Consumers Coop
o C.
Producers Coop
o D.
Multi-purpose coop
12.
What is the primary capital of cooperatives?
o A.
o B.
Savings
o C.
Donations
13.
What are the two types of membership?
o A.
Regular
o B.
Permanent
o C.
Associate
o D.
Part time
14.
Death can be a reason to terminate a member in the coop.
o A.
True
o B.
False
15.
A member can continue to be a member even he does not patronize the Coop
services.
o A.
True
o B.
False
16.
A member can be terminated if he is mentally ill.
o A.
True
o B.
False
17.
What are the duties of a Coop member?
o A.
o B.
o C.
Always apply for a credit
o D.
18.
What is the highest governing body of the Cooperative?
o A.
General Assembly
o B.
BOD
o C.
Officers
19.
Who will preside the General Assembly?
o A.
Officers
o B.
Chairman
o C.
Committees
20.
How many times the General Assembly must meet in a year?
o A.
o B.
Twice a year
o C.
21.
The Board of Directors has the power to create new policies that can be
implemented directly without the General Assembly's approval.
o A.
True
o B.
False
22.
The BOD's number should be 0dd.
o A.
True
o B.
False
23.
What committee that is responsible for the approval of the loans?
o A.
Audit committee
o B.
Credit committee
o C.
Supevisory committee
24.
What committee that is responsible for the checking and analysis of the
financial reports?
o A.
Credit committee
o B.
Audit committee
o C.
Supervisory committee
25.
Check the choices that holds true about the education committee.
o A.
o B.
o C.
o D.
26.
The elected vice-chairman will automatically be designated as chairman of what
committee?
o A.
Audit
o B.
Education
o C.
Credit
27.
The secretary is responsible for recording and keeping the minutes of meeting.
o A.
True
o B.
False
28.
Who is responsible for the promulgation of the election of officers?
o A.
Credit committee
o B.
Election committee
o C.
BOD
29.
A capital share is of what type of account?
o A.
Asset
o B.
Income
o C.
Liaility
o D.
Equity
30.
Accounts receivable is under the _______ account.
o A.
Assets
o B.
Income
o C.
Liabilities
31.
Which of the following is an Asset account?
o A.
Cash in Hand
o B.
Checking Account
o C.
Supplies
o D.
Building
o E.
Equipment
32.
What is government agency that regulates Cooperatives?
o A.
o B.
o C.
33.
A cooperative is formed because of ______.
o A.
Mutual benefit
o B.
Credit
o C.
Business
34.
Check in the following choices the advantages of Cooperatives.
o A.
o B.
Controlled by members
o C.
o D.
o A.
o B.
Harmony of members
o C.
36.
Check the nature and character of cooperatives
Discuss
o A.
Service-oriented
o B.
Self-sufficient
o C.
o D.
Cooperatives are not for profit and not for charity but for service.
o E.
37.
A type of coop that caters different services such as lending, savings, marketing,
etc.
o A.
Credit Coop
o B.
Consumers Coop
o C.
Producers Coop
o D.
Multi-purpose coop
38.
A type of Coop that focuses on retail business such as grocery, general
merchandise, etc.
o A.
Multi-purpose coop
o B.
Producers Coop
o C.
Consumers Coop
o D.
Credit Coop
39.
What is the excess amount of revenues that will be shared by the members?
o A.
Profit
o B.
Dividends
o C.
Share
40.
What are the rights of a Coop Member?
Discuss
o A.
o B.
o C.
o D.
41.
Salaries and wages of employees is under the _________ account.
o A.
Expenses
o B.
Income
o C.
Liabilities
o D.
42.
The Coop wants to purchase a Photocopy Machine. What is the effect of this
purchase in the accounting equation?
o A.
o B.
o C.
o D.
43.
Which will you account if a fixed asset depreciates?
o A.
Expenses
o B.
Income
o C.
Accounts Payable
o D.
44.
Service fees, interest rates and penalties are accounted on what type of
account?
o A.
Expenses
o B.
Income
o C.
Liabilities
o D.
Equity
45.
What will be the effect on the accounting equation when an electricity bill is due
at the end of the month?
o A.
o B.
o C.
o D.