Question

the co-operative society balnances it's acoounts on......​

Answer 1

Answer:

Cooperative societies are operative in various sectors like consumer, industrial, services, marketing, etc. Under accounting system of Co-operative societies, the term Receipt and Payment is used for two fold aspects of double entry system.

Explanation:

society is liable to maintain the below-listed records on a permanent basis:

Minutes of Meeting Book of general, special and annual meetings.

Member Register.

Register of Shares, Debentures and Bonds (with counterfoils)

Stock Register/Dead Stock Register and Property Register.

Cash Book.

General and Personal Ledgers.