Question

Final Accounts of a Co-operative Society should be made within___ days of close of accounting
year
A. 90 Days
B. 45 Days
C. 60 Days
D. 120 Days

Answer 1

It should be made within 45 days.

• A co-operative society represent an direct association of people, generally of limited resources, that voluntarily associate with the organization.
• The members then also contribute an corresponding part of the capital necessary and accepting a share of the organization's risks and rewards.
• The civil society must adequately prepare the various required financial statements within 45 days after the effective end of the accounting year, according to rule number 61.