Coop Quiz

What is the liability of a cooperative registered under the Philippine cooperative code?

• Limited

• Unlimited

• Separate and distinct

• General

It is a conclusive evidence that a cooperative is duly registered unless it is proved to be cancelled.

• BYLAWS AND ARTICLES OF COOPERATION

• CERTIFICATE OF REGISTRATION

• ARTICLES OF COOPERATION

• BYLAWS

What cooperative is composed of natural persons as members?

• Natural

• Primary

• Regular

• Union

The Philippine Cooperative Code of 2008 is the title of Republic Act No. _______________

Cooperatives with accumulated reserves and undivided net savings of more than ̈́P10 million shall pay the following taxes at the full rate, EXCEPT

• Income Tax: On the amount allocated for interest on capitals: provided, that the same tax is not consequently imposed on interest individually received by members

• Sales Tax: On sales to non-members: provided, however, that all cooperatives, regardless of classification, are exempt from the payment of income and sales taxes for a period of 10 years

• Donor’s Tax

• None of the choices

Every cooperative whose charter expires by its own limitation or whose cooperative existence is terminated by voluntary dissolution or is terminated by appropriate judicial proceedings shall nevertheless be continued as a body cooperative for __________ after the time when it would have been dissolved.

• 5 years

• 3 years

• 12 months

• 2 years

The address and its change must be registered to the CDA.

• TRUE

• FALSE

It is a certificate issued by the CDA to the operating cooperatives that has complied with the mandatory requirements.

• Certificate of Commendation

• Certificate of Cooperation

• Certificate of Registration

• Certificate of Compliance

It refers to the termination of the juridical personality of the cooperative through appropriate judicial proceedings, or by an order of the CDA, or through its own initiative.

• Liquidation

• Termination

• Dissolution

• None of the choices

Cooperatives organized among government employees shall enjoy the free use of any available space in their agency. True or False

• TRUE
• FALSE