KOOP QUIZEE 12TH BLAST Flashcards
It refers to the interest earned by the members’ paid up capital which is computed by multiplying the rate of interest on share capital by members’ average shares. This interest in known as
A. Interest on Share Capital
B. Interest on Invested Capital
C. Interest on Deposits
D. Interest on Loans/Credit
A. Interest on Share Capital
A cooperative organized for the purpose of providing a training ground for its members to prepare themselves for membership to regular cooperatives
A. Secondary Cooperative
B. Federation
C. Laboratory Cooperative
D. Union of Cooperatives
C. Laboratory Cooperative
What is the general systems and procedures adopted to safeguard the cooperative’s assets, check the accuracy and reliability of its accounting data, promote operational efficiency and encourage adherence to prescribed managerial policies?
A. Internal Control
B. Accounting System
C. Auditing Procedures
D. Inventory
A. Internal Control
What is the set of document which provides for the name of the cooperative, its purpose/s, term of existence, area of operation, common bond of membership, list of names of directors and registrants, amount of share capital, names of contributors and a statement whether the cooperative is primary, secondary or tertiary?
A. By-Laws
B. Articles of Cooperation
C. Sworn Statements
D. Economic Survey
B. ARTICLES OF COOPERATION
It shall refer to a cooperative which initiates the organization of another cooperative called a subsidiary cooperative and provides technical, managerial and financial assistance thereto?
A. Mother Cooperative
B. Guardian Cooperative
C. Foster Cooperative
D. Parent Cooperative
D. Parent Cooperative
What is that part of the financial statements which presents the financial performance for the period, including revenues, cost and expenses, gains and losses and net surplus or net loss?
A. Statement of Changes in Equity
B. Cash Flows Statement
C. Statement of Operations
D. Statement of Financial Condition
C. Statement of Operations
It is regular meeting held annually on a date fixed in the by-laws or if not so fixed, on any date within 90 days after the close of the fiscal year.
This meeting is called ________________?
A. BOD meeting
D. Special General Assembly Meeting
C. General Assembly Meeting
D. Ad Hoc Committee Meeting
C. General Assembly Meeting
This kind of membership refers to a member who meets all qualifications of membership as prescribed in the by-laws of cooperative, enjoys all rights and privileges entitled to a member including the right to vote and be voted upon.
A. Regular Member
B. Associate Member
C. Member in Good Standing
D. Honorary Member
A. Regular Member
Wat is the act committed by the directors who by virtue of his office, acquires for himself an opportunity which should belong the cooperative.
A. Dishonesty
B. Disloyalty
C. Escheat
D. Withdrawal
B. Disloyalty
This is a cooperative established for the purpose of promoting thrift and savings among members, mobilizing funds in order to undertake lending services for productive and provident purposes. What is this type of cooperative?
A. Credit Cooperative
B. Financial Service Cooperative
C. Cooperative Bank
D. Savings Cooperative
A. Credit Cooperative
This is the governing body of the CDA which provides overall supervision in the exercise of powers and performance of responsibilities of the agency. It composed of a Chairperson with the rank of Undersecretary and Six (6) members, all appointed by the President.
A. Board of Administrator
B. Regional Director
C. Cooperative Development Specialist
D. Board of trustees
A. Board of Administrator
In the cooperative’s standard chart of accounts, what is that account referred to as payments in advance, to be authorized within one year, example: insurance, interest, rentals, etc.
A. Deposit to Suppliers
B. Prepaid Expenses
C. Input Tax
D. Other Current Assets
B. Prepaid Expenses
What is the mechanism adopted in securing the approval of the general assembly of an Electric Cooperative on issues affecting its registration, operation and management?
A. Election
B. Plebiscite
C. Convention
D. Referendum
D. Referendum
This is a mandatory allocation which shall be at least 10 percent of net surplus to be used for the stability of the cooperative and to meet net loss in its operations. This fund is called _______.
A. Education and Training Fund
B. Capital Fund
C. Optional Fund
D. Reserve Fund
D. Reserve Fund
What id the committee in the cooperative with the power and duty to continuously monitor the adequacy and effectiveness and effectiveness of the coop’s management control system, assess the performance of the cooperative and its various responsibility centers?
A. Ethics Committee
B. Mediation and Conciliation Committee
C. Credit Committee
D. Audit Committee
D. Audit Committee
It refers to the disqualification of a member of the cooperative from the enjoyment of his/her rights and privileges for a given period.
A. Blacklisting
B. Dismemberment
C. Termination
D. Expulsion
A. Blacklisting
This is the major concern that the General Assembly has the exclusive power to decide on in a duly constituted meeting, which does not require the General Assembly’s three fourths (3/4) votes for approval. Which decision are referring to?
A. Division of Cooperative
B. Amendment of Articles of Cooperation and By-Laws
C. Removal of an Elective Officer
D. Merger and Consolidation
B. Amendment of Articles of Cooperation and By-Laws
What principle provides for the State’s recognition that cooperative sector will initiate
and regulate within its own ranks the promotion and organization, training and research, audit and support services relative to cooperative with government assistance when necessary.
Principle of subsidiary/ Subsidiarity
What is the cooperative organized and registered with the principal of providing employment and business opportunities to its members and managing it in accordance with the cooperative principles.
Workers Cooperative
It refers to a process or procedure used to resolve a dispute or a controversy, other than by adjudication of a presiding Judge of Court or an officer of a government agency which a neutral third party participates to assist in the resolution of issues which includes arbitration, mediation, conciliation, early neutral evaluation, mini trial or combination thereof. What is this process called?
Alternative Dispute Resolution
In a Transportation Service Cooperative, the completion of CETOS as conducted by the office of transportation Cooperatives is a requirement for registration to prospective cooperative and/or multi-purpose cooperative intending to engage in transportation service.
The acronym CETOS stands for______________?
Cooperative Education and Transport Operation Seminar
What is the instrument issued by the authority requiring the cooperative to justify its failure to comply with the cooperative laws, rule and regulations and other administrative issuances, relating to the grounds for dissolution, liquidation and cancellation.
SHOW CAUSE ORDER
He/ She is the person appointed by the authority, empowered to take change of the assets, liabilities, and the management of the cooperative, after finding that the cooperative is in the state of continuing inability or unwillingness to maintain a condition of liquidity which deemed adequate to protect the interest of members and creditors of the cooperative
Conservator
In a Labor Service Cooperative, what do you call that person or group of persons or a labor group which, in guise of cooperative, supplies individual members or workers to an employer with or without monetary or other consideration whether in the capacity of an agent of the employer or as an ostensible independent contractor.
Cabo
