Question

2 difference between cooperative society and limited liability company

Answer 1

hey mate...

1. objective

The primary objective of a company form of organization is profit making. But in the case of co-operatives, its main objective is service and not profit.

2. Formation

A company is formed and registered under the Companies Act. But a co-operative society is formed either under the Co-operative societies Act or under the State Co-operatives Act.

3. Capital

In a company form of organization, mobilization of large amount of capital is possible. But it is not possible in the case of co-operatives.

4. Number of Members

The minimum number of members required to start a co-operative society is 10 and there is no maximum limit. But in a public company, the minimum member is seven and there is no maximum limit and in a private company the minimum number of member is 2 and the maximum limit is 50.

hope it helpz uh

Answer 2

Explanation:

A co-operative is a member-owned business structure with no less than five individuals, all of whom have equal voting rights irrespective of their level of involvement or investment. All members are expected to help run the cooperative smoothly