SS1: COMMERCE - 3RD TERM
Associations and Enterprises | Week 13 Topics
Co-operative Societies I | Week 23 Topics
Co-operative Societies II | Week 33 Topics|2 Quizzes
Public Enterprises | Week 45 Topics|1 Quiz
Limited Liability Companies | Week 54 Topics
Formation of Limited Liability Companies | Week 61 Topic
Limited Liability Companies III | Week 73 Topics|3 Quizzes
Sources of Capital of Limited Liability Companies
Advantages and Disadvantages of Limited Liability Companies
Liquidation or Winding up
- Sources of Capital of Limited Liability Companies
Trade Associations and Other Enterprises | Week 81 Topic
Chamber of Commerce | Week 91 Topic
Other Forms of Trade Association | Week 101 Topic|1 Quiz
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Advantages / Disadvantage of Co-operative Societies
Advantages of Co-operative Societies:
1. It provides technical information to members.
2. It settles disputes among its members.
3. It improves the standard of living of its members.
4. It has a corporate existence and a perpetual succession.
5. It helps its members to obtain loan facilities from banks.
6. The profit is subject to tax.
7. It encourages the members to save.
8. They educate their members by providing training on new techniques. Monthly meetings are held where members are enlightened.
9. The members’ liability is limited to the amount contributed.
10. It enjoys economies of scale.
Disadvantages of Co-operative Societies:
1. People who are appointed by members of the committee to take charge of the society usually end up embezzling the funds which may lead to the winding up of the society.
2. The committee members may not be specialists in the management of the affairs of the society.
3. It proves difficult in most cases to recover loans given to members.
4. The capital available for investment is very low. Most of the members are low-income earners.
5. A high level of illiteracy exists among members which make their education and training very difficult.
6. There is a low return on investment because the profit distributed to members is low.