State any three basic features of cooperative societies?
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Answer:1> It is only for social welfare
2>it member has limited liability
3> it is a continuous
Explanation:1> It is not don for profit motive . It is started for helping a society to consume good product at reasonable rate.
2> Members has limited liability because if there is any loss in business . Member of society is liable to pay only those money which they had given to be the member
3> Death , retirement and insolvency of any member does no effect the business
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