Question

Maximization of profit is the main motto of co-operative society. (State with reason whether the given statement is true or false)

Answer 1

False.

Co operatives are set up mostly in rural areas to provide formal credit at cheaper rates to one's in need of it without a collateral,when the cooperatives source of income is the pooling of small amount of money by the various members

Answer 2

As per the provided statement, the point is FALSE.

A co-operative system has a motto to serve the members of the society. Such that they share all kinds of factors in the firm like investments, shares and losses.

They focus to develop other members and by that way they can develop themselves.It beleives in the fact that first the member of the society should be treated through which the society automatically develops.