Question

Cooperative societies do not have the following characteristics
(a) Open Membership (b) Separate legal entity
(c) Profit Motive (d) Voting Power

Answer 1

Explanation:

(c) and (d)

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Answer 2

Profit Motive is not the characteristic of cooperative societies. Its main objective is to facilitate services to its members and not to maximize the profit

Answer: Option (c)

Explanation:  

The cooperative societies are formed to provide a platform for the voluntary contribution of the members and cater the necessary needs of its members. The quality of goods is the focus area and not the profit. The profit margin is small and the profit earned is distributed among its members.