Quiz 6

What is one potential drawback of excessive supervision in a cooperative?

• Increased accountability and productivity.

• Decreased collaboration and morale.

• Enhanced creativity and innovation.

• Improved decision-making.

What is a key characteristic of effective leadership in a cooperative?

• Authoritarian decision-making with input from members.

• Centralized control over all cooperative operations.

• Empowering and inclusive decision-making processes.

• Micromanagement of cooperative members' tasks.

How does sound cooperative management ensure compliance with relevant laws and regulations?

• Sound cooperative management integrates legal compliance into operational processes.

• Sound cooperative management relies on legal advisors for compliance.

• Sound cooperative management disregards legal requirements.

• Sound cooperative management actively seeks to circumvent laws and regulations.

What is the significance of member education and training in sound cooperative management?

• Member education and training allow members' access to information.

• Member education and training are relevant in sound cooperative management.

• Member education and training promote ignorance and incompetence.

• Member education and training empower members to participate effectively.

Some of the most essential management responsibilities which the members must assume are the following, EXCEPT:

• Select and remove cooperative directors

• Controls the affairs and business of the cooperative

• Prepare for management position

• Exercise vigilance in the affairs of their cooperative under the concept of "market supervision"

The following are the lists of the more important management responsibilities which are normally handled and assumed directly by the board of directors, EXCEPT

• Adopt and amend corporate papers

• Assumes ultimate and full responsibility for the efficient and effective management of the cooperative

• Establishes and develops basic objectives and broad policies

• Requires the installation of an adequate accounting system

The manager has the following responsibilities

I. Assumes full responsibility for the operation as delegated by the board of directors

II. Recommends specific goals to the board.

III. Capitalize the cooperative.

IV. Maintains channels of communication with the members and the public.

V. Sets up the organizational structure and recruits the staff.

• Only Statement I is true

• Statement I, II, and IV are true

• Statement I, II, and V are true

• All Statements are true

What role does empathy play in effective leadership of a cooperative?

• Empathy is relevant in effective leadership.

• Empathy fosters understanding and trust among members.

• Empathy should be reserved only for certain members.

• Effective leadership relies solely on authority and control.

The word "______" is used to mean a general law or rule adopted or professed as a guide to action.

• Process

• Figure

• Accounting

• Principle

The ______ states that every transaction has two effects, affecting both assets and liabilities or equity simultaneously.

• The Dual Aspect Principle

• Value Equals Cost

• The Accrual Principle

• The Business Entity