Name: DECE JENE M NAVARRA Score: __________________

Accounting for Government and Non-Profit Organization

Quiz on Cooperative Part I

1. An autonomous association of persons 9. I. Death can be a reason to terminate a

united voluntarily to meet their common member in the coop.
economic, social, and cultural needs and II. A member can continue to be a
aspirations through a jointly-owned and member even if he does not patronize the
democratically-controlled enterprise Coop services.
a. Government a. Both statements are true
b. Cooperative b. Both statements are false
c. Union c. Only statement I is true
d. Federation d. Only statement II is true

2. Cooperatives are owned, managed, and 10. What is government agency that regulates
patronized by _______. Cooperatives?
a. Members a. Cooperative Development Authority
b. Manager b. Phil. Federation of Credit Cooperatives
c. Proprietor c. Cooperative Authority of the Phils
d. Businessman d. Securities and Exchange Commission

3. Cooperatives serve best when they answer 11. A cooperative is formed because of ______.
the needs of the_______. a. Mutual benefit
a. Members b. Credit
b. Manager c. poverty
c. Proprietor d. Business
d. Businessman
12. A type of coop that caters different
4. I. In Cooperatives, membership is forced. services such as lending, savings,
II. In cooperatives, the members are the marketing, etc.
owners of the business. a. Credit Coop
a. Both statements are true b. Consumers Coop
b. Both statements are false c. Producers Coop
c. Only statement I is true d. Multi-purpose coop
d. Only statement II is true
13. A type of Coop that focuses on retail
5. One of the purposes of Cooperative is to business such as grocery, general
encourage _________. merchandise, etc.
a. Thrift and savings a. Multi-purpose coop
b. Borrow when there's no money b. Producers Coop
c. Lending all the way c. Consumers Coop
d. Investment d. Credit Coop

6. A type of coop that caters lending 14. What is the excess amount of revenues
services. that will be shared by the members?
a. Credit Coop a. Profit
b. Consumers Coop b. Dividends
c. Producers Coop c. Share
d. Multi-purpose coop d. Undivided net surplus

7. A type of coop that is formed by farmers 15. Check the choices that holds true about
to save money selling of crop and other the education committee.
products of farmers a. Responsible for auditing
a. Credit Coop b. Calls the meeting
b. Consumers Coop c. Recruits new members
c. Producers Coop d. Gives training and lecture about the coop
d. Multi-purpose coop

8. What is the primary capital of

cooperatives?
a. Member's share capital
b. Savings
c. Donations
d. Creditors investments
ANSWER

1. B
2. A
3. A
4. D
5. A
6. A
7. C
8. A
9. B
10. A
11. A
12. D
13. C
14. D
15. D