7. Under M.S.C.S. Act, a society must prepared the following financial statement for accounting year.
a) Profit & Loss A/c b) Receipts a payment
c) Balance sheet d) All the above.
8. Under the Maharashtra Co-operative society Act, Audit of a Co- operative society can be conducted by
a) A chartered Accounts b) Cost Accountant
c) Employee & Co-operative d) Non of above
9. A member who holds jointly share of society, a his name appears first in share certificate.
a) Nominal member b) Associate member
c) Sympathizes member d) Non of the above
10. Amendment of Bye-Laws of the society can be done.
a) by General body ½ members
b) by passing it in managing committee meeting.
c) by Registrar of societies
d) by General Body by ⅔ majority subject to approval from Registrar.
Answers
7. option (a)
8.
9.option (b)
10.
Answer:
Under MSCS (Maharashtra State Co-operative Society) Act, a society must prepare the following financial statements for the accounting year:
a) Profit & Loss A/c
b) Receipts and Payments A/c
c) Balance Sheet
All the above financial statements must be prepared for a clear picture of the financial position of the society.
Under the Maharashtra Co-operative society Act, the audit of a Co-operative society can be conducted by:
a) A Chartered Accountant
A chartered accountant is a professional who is authorized to perform an audit of a society as per the laws and regulations.
Under the MSCS Act, a member who holds jointly shared of the society and his name appears first in the share certificate is considered as:
a) Nominal Member
A nominal member is a person who is listed in the share certificate of a co-operative society, but may not actively participate in the society's activities.
Amendment of Bye-Laws of the society can be done:
d) by General Body by ⅔ majority subject to approval from Registrar.
A society's bye-laws can be amended by a two-thirds majority vote of the general body, subject to approval from the Registrar of Societies. This ensures that any changes made to the bye-laws are in compliance with the laws and regulations set by the government.
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