In the ………………….the board of directors reports to membership, reviewing the past business year and the year’s financial statements.

Related MCQs

• In ……………………who participates, will vary from co-operative to co-operative depending upon the organizational structures that have been approved by the membership and/or the board of directors.
• In the ……………the board makes or changes policies as required, or recommends a policy to the membership if only the membership has the authority in a particular area.
• In the ……………….membership elects a new board.
• In the ……………..the board approves new members or terminates a person’s membership.
• In the …………………the manager(s) reports to the board, which in turn provides direction to the manager(s).
• In the ……………..the board evaluates the cooperative society’s financial position to determine whether or not the budgeted objectives are being met and what actions should be taken to improve the situation.
• In the ……………….the Board members discuss long-term goals and strategy and ensure that a good planning process is in place to guide the cooperative society in the coming year(s).
• An ……………………………convenes once a year on a date fixed by the bylaws of the cooperative but, not later than three months after the end of the financial year.
• Every society shall maintain …………………for recording the applications for membership containing the name and address of the applicant.
• Every society shall maintain …………………for recording the applications for membership,the number of shares applied for and in case of refusal, the date of communication of the decision refusing admission to the applicant.