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Quiz 2 Answers
1. Instructor should evaluate answers according to reference
materials provided and manner in which concepts were taught.
2. The three contemporary cooperative principles that
distinguish a cooperative business from other business forms in the
United States are (complete with one word
answer)
a) User-owned
b) User-controlled
c) User-benefits
3. From the list below, identify by number the original 12
features that are known as the "Rochdale Principles and
Practices."
a) Rochdale Principles and Practices
(correct answers are underlined; numbers 2 and 11 are wrong):
1) Voting by members on a democratic basis.
2) Membership is closed.
3) Return on equity capital is limited.
4) Assume no unusual risk.
5) Membership is open.
6) Duty to educate.
7) Equity is borrowed from a bank.
8) Net earnings are distributed to patrons as refunds on a cost basis.
9) Political/religious neutrality.
10) Equity is provided by patrons.
11) Women only as patrons.
12) Cash trading only.
13) Equity ownership share of individual patrons is limited.
14) Equality of the sexes in membership.
15) Exchange of goods and services at market prices.
b) The Rochdale pioneers were associated
with what country? England
4. How many principles are listed in the International Cooperative
Alliance (ICA) statement of cooperative identity?
a. Seven (7)
b. Name one of the ICA
principles that most significantly differs from the Rochdale,
traditional, and contemporary
cooperative principles that were
discussed.
Autonomy and
independence, cooperation among cooperatives, or concern for community.
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