Differentiate between co-operative society and JHUF.
Answers
Answered by
0
Formation It if formed by a group of persons belonging to one class. 1.It deals with members only It is formed with various classes of people and deals with public.
2. Profit motive It works without profit motive. 2. Its main aim is profit making.
3. Objective Its object is to eliminate middlemen in the chain of distribution. 3. It is capitalistic in nature and encourages competition.
4. No. of members The minimum number of members is 10 and there is no maximum limit. 4. The minimum number is 7 and there is no maximum limit in a public limited company.
5. Customer Generally, the sellers and buyers are same. 5.The sellers and buyers are not same.
6. Use of Profits Profits are used for the common benefits of the society. 6.Profits are meant only for the shareholders.
7. Transfer of shares Its shares are not transferable. 7.Its shares are transferable.
8. Voting rights Each member will have a vote irrespective of the number of shares taken by him. 8.Each share will have a vote.
9. Management Only members can take part in management. 9 Outsiders also may take part in the management.
10. Legislation It is regulated by the Co-operative Societies Act. 10. It is regulated by the Companies Act.
2. Profit motive It works without profit motive. 2. Its main aim is profit making.
3. Objective Its object is to eliminate middlemen in the chain of distribution. 3. It is capitalistic in nature and encourages competition.
4. No. of members The minimum number of members is 10 and there is no maximum limit. 4. The minimum number is 7 and there is no maximum limit in a public limited company.
5. Customer Generally, the sellers and buyers are same. 5.The sellers and buyers are not same.
6. Use of Profits Profits are used for the common benefits of the society. 6.Profits are meant only for the shareholders.
7. Transfer of shares Its shares are not transferable. 7.Its shares are transferable.
8. Voting rights Each member will have a vote irrespective of the number of shares taken by him. 8.Each share will have a vote.
9. Management Only members can take part in management. 9 Outsiders also may take part in the management.
10. Legislation It is regulated by the Co-operative Societies Act. 10. It is regulated by the Companies Act.
Similar questions