It is a form of organization; its purpose is to gain for producers or consumers the profits or savings which would otherwise accrue to middlemen. Its income is periodically distributed to members in the form of patronage refund

It is a form of organization; its purpose is to gain for producers or consumers the profits or savings which would otherwise accrue to middlemen. Its income is periodically distributed to members in the form of patronage refund

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

It is a form of organization; its
purpose is to gain for producers or
consumers the profits or savings
which would otherwise accrue to
middlemen. Its income is periodically
distributed to members in the form of
patronage refund
O A. Partnership
B. Corporation
O c. Cooperative
D. Sole proprietorship

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