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What is a defining characteristic of a cooperative?
What is a defining characteristic of a cooperative?
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Practice Questions
1 question
Q1
What is a defining characteristic of a cooperative?
Owned by shareholders
Owned and operated for the benefit of members
Limited liability for owners
Managed by a board of directors
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A cooperative is owned and operated for the benefit of its members, who use its services.
Questions & Step-by-step Solutions
1 item
Q
Q: What is a defining characteristic of a cooperative?
Solution:
A cooperative is owned and operated for the benefit of its members, who use its services.
Steps: 4
Show Steps
Step 1: Understand what a cooperative is. A cooperative is a type of organization.
Step 2: Know who owns a cooperative. It is owned by the people who use it.
Step 3: Learn about the purpose of a cooperative. It operates to benefit its members.
Step 4: Recognize that members use the services provided by the cooperative.
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