Question

Difference similarities between cooperative society and limited liability to do a business

Answer 1

Answer:

Both are body corporates registered under their respective laws.

The members of both the forms of organisation enjoy the feature of limited liability.

Both are associations of persons who contributed capital into the business.

There is a difference in basic objectives of cooperatives from companies. The basic objective of a cooperative organisation is to provide essential service for the benefit of members. On the other hand, a company is a business organisation with the objective of earning profit.

Explanation:

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Answer 2

Explanation:

Both are body corporates registered under their respective laws.

The members of both the forms of organisation enjoy the feature of limited liability.

Both are association of persons who contributed capital into the business.

There is a difference in basic objectives from companies. The basic objective of a cooperative organisation is to provide essential service for the benefit of members. On the other hand, a company is a business organisation with the objective of earning profit.

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