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    Name: - Course & Year Level: - Date: - Part I: Multiple Choices. Direction: Encircle The Correct Answer. Strictly No Erasure Allowed

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    Rey Perosa
    This document contains a test on the Law on Business Organization - Cooperative for ACLC College's Accountancy and Business Department. The test has 15 multiple choice questions covering topics like the definition of members, boards, quorums, capital requirements, and the different types of cooperatives. It provides students with an assessment of their understanding of key concepts and terms related to Philippine cooperative law.

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    Name: - Course & Year Level: - Date: - Part I: Multiple Choices. Direction: Encircle The Correct Answer. Strictly No Erasure Allowed

    Uploaded by

    Rey Perosa
    5K views2 pages
    This document contains a test on the Law on Business Organization - Cooperative for ACLC College's Accountancy and Business Department. The test has 15 multiple choice questions covering topics like the definition of members, boards, quorums, capital requirements, and the different types of cooperatives. It provides students with an assessment of their understanding of key concepts and terms related to Philippine cooperative law.

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    Final Quiz on Cooperative

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    This document contains a test on the Law on Business Organization - Cooperative for ACLC College's Accountancy and Business Department. The test has 15 multiple choice questions covering topics like the definition of members, boards, quorums, capital requirements, and the different types of cooperatives. It provides students with an assessment of their understanding of key concepts and terms related to Philippine cooperative law.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    5K views2 pages

    Name: - Course & Year Level: - Date: - Part I: Multiple Choices. Direction: Encircle The Correct Answer. Strictly No Erasure Allowed

    Uploaded by

    Rey Perosa
    This document contains a test on the Law on Business Organization - Cooperative for ACLC College's Accountancy and Business Department. The test has 15 multiple choice questions covering topics like the definition of members, boards, quorums, capital requirements, and the different types of cooperatives. It provides students with an assessment of their understanding of key concepts and terms related to Philippine cooperative law.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    AMA EDUCATION SYSTEM

    ACLC College
    Tacloban City

    ACCOUNTANCY & BUSINESS DEPARTMENT


    1ST Semester SY 2019-2020

    LAW ON BUSINESS ORGANIZATION-COOPERATIVE

    Name: ________________________________ Course & Year Level:_____________ Date:______________

    Part I: Multiple Choices.

    Direction: Encircle the correct answer. Strictly no erasure allowed.

    1. A person, either natural or juridical, who adhering to the principles set forth in the Philippine Cooperative
    Code and in the Articles of Cooperative, has been admitted by the cooperative as member.
    A. Member
    B. Stockholder
    C. Shareholder
    D. Partner
    2. It means the full membership of the cooperative duly assembled for the purpose of exercising all the
    rights and performing all the obligations pertaining to cooperatives.
    A. Shareholder’s meeting
    B. Members’ meeting
    C. General assembly
    D. Partners’ assembly
    3. It means that body entrusted with the management of the affairs of the cooperative under its articles of
    cooperation and by laws.
    A. Board of Trustees
    B. Officers
    C. Board of Regents
    D. Board of Directors
    4. It refers to the government agency in charge of the registration and regulation of cooperatives.
    A. Securities and Exchange Commission (SEC)
    B. Department of Trade and Industry (DTI)
    C. Civil Service Commission (CSC)
    D. Cooperative Development Authority (CDA)
    5. It means that body of cooperative principles adhered to worldwide by cooperatives.
    A. Universally accepted principles
    B. International accounting principles
    C. Generally accepted principles
    D. Transnational principles
    6. Is one who has complied with all the membership requirements and entitled to all the rights and
    privileges of membership.
    A. Regular member
    B. Irregular member
    C. Principal member
    D. Associate member
    7. In a primary cooperative, each member shall have _______ voting right.
    A. One
    B. Two
    C. Three
    D. Four
    8. A quorum shall consist of at least ____________ of all members entitled to vote.
    A. 25%
    B. 50%
    C. 75%
    D. 100%
    9. A cooperative where the primary purpose of which is to procure and distribute commodities to members
    and non-members.
    A. Consumers cooperative
    B. Marketing cooperative
    C. Producers cooperative
    D. Credit cooperation
    10. The minimum paid up capital for cooperative except for multipurpose cooperative is
    A. P5,000
    B. P10,000
    C. P15,000
    D. P20,000
    11. In no case any member of cooperative shall hold more than ________ of the subscribed capital.
    A. 5%
    B. 10%
    C. 20%
    D. 51%
    12. All are the requirements to register cooperative, except:
    A. Fifteen or more natural person
    B. All are Filipino Citizens
    C. Have a common bond of interest
    D. Must be resident anywhere of the Philippines regardless of the location of the main office
    13. To establish a branch, the Primary Cooperative must have
    A. P10 million paid-up capital
    B. P15 million paid-up capital
    C. P20 million paid-up capital
    D. P25 million paid-up capital
    14. It refers to a cooperative the members of which are primary cooperatives.
    A. Primary Cooperative
    B. Secondary Cooperative
    C. Tertiary Cooperative
    D. All of the above

    15. A cooperative organized by minors and affiliated with a registered cooperative.


    A. Guardian Cooperative
    B. Laboratory Cooperative
    C. Junior Cooperative
    D. Baby Cooperative

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