Types of Business

How are profits of a cooperative distributed back to the members?

• Based on the amount of business each has done

• Equally to all

Which kind of business does a cooperative most resemble?

• corporation

• partnership

• sole proprietorship

Who runs the day-to-day operations of a cooperative?

• owner

• partners

• manager hired by a board of directors

What is the purpose of a cooperative business?

• produce a profit

• serve its members

Which of the following was a cooperative organized in England in 1844?

• American Farm Bureau Federation

• American Society of Equity

• Grange

• Rochdale Equitable Pioneers' society

Which of the following U.S. cooperatives was based on Rochdale principles when it was organized?

• American Farm Bureau Federation

• American Society of Equity

• Grange

• Rochdale Equitable Pioneers' Society

Who has the most say in making decisions for a cooperative?

• Votes are based on the amount of business each member has done

• everyone has only one vote

What is the name of the law that makes it possible for a cooperative to operate free of certain antitrust limitations?

• Capper-Volstead Act of 1922

• Sherman Antitrust Act

• Rochdale Act

Which of the following usually follows the one person, one vote rule?

• corportation

• cooperative

Which of the following is organized for the main purpose of earning a profit?

• corporation

• cooperative