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What is cooperative account?

Updated: 9/22/2023
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What is the best type of bank account from Cooperative Bank?

The Cooperative bank offers many different accounts, all of which may be best for different situations. When looking for an account, it may be best to contact a banker directly in order to find the best account for the individual's needs.


Who are sundry creditors?

Those who are members of a Cooperative Society was told that unclaimed dividened of their savings during the annual AGM will classify as Sundry Creditors and shall not be allowed to accumulate the dividened out into their account. Is this the right term to use?


Is a cooperative a legal entity?

Yes it is!


Does cooperative society pay withholding tax?

A Cooperative Society does not pay withholding taxes. Withholding taxes are taxes deducted at source from incomes earned by individuals and corporate bodies that are subject to payment of taxes. The taxess so withheld are subsequently deducted from the final tax liabilities of such individuals/corporate bodies. Since Cooperative Societies do not pay taxes on theirprofits it will beimpossible to deduct such withheld taxes and so the Cooperative suffers.


Why possibility of conflict between members is disadvantage of cooperative?

A cooperative is really a corporation that owns the land or a land lease. If you look at it simply as a corporation, conflicts can be hazardous. Generally, such conflicts would arise out of different views on how to manage the finances of the cooperative, which may ultimately lead to higher payments from certain owners, or more restrictions that make it difficult for owners to navigate in this market. I generally tend to stay away from cooperative buildings. Think Properties NYC

Related questions

What is the best type of bank account from Cooperative Bank?

The Cooperative bank offers many different accounts, all of which may be best for different situations. When looking for an account, it may be best to contact a banker directly in order to find the best account for the individual's needs.


What are the services offered by the Cooperative Bank in the UK?

The Cooperative Bank in the UK offers money advice service to help you when budgeting, borrowing money, taking out a mortgage or opening a saving account.


What are the different kinds of cooperatives?

Housing cooperative Building cooperative Retailers' cooperative Utility cooperative Worker cooperative Business and employment co-operative Social cooperative Consumers' cooperative Agricultural cooperative Cooperative banking (credit unions and cooperative savings banks) Federal or secondary cooperatives


What is the comparative and superlative form of cooperative?

The comparative is more cooperative, and most cooperative is the superlative.


What is cooperative societies and the types of cooperative societies?

cooperative society is a voluntary association of people for their common economic development. Types: consumer cooperative producers cooperative market cooperative credit cooperative framing cooperative


Is cooperative farming same as cooperative marketing?

No.


What is the opposite word to cooperative?

non cooperative


What is the suffix for cooperative?

The suffix for cooperative is -ive.


What are cooperative nexus?

cooperative nexus is seen as Emma


What is the correct spelling of cooperative?

Cooperative is the correct spelling.


Is Grameen Bank a Cooperative?

Is Grameen Bank a cooperative? Why or Why not?


When was Grange Cooperative created?

Grange Cooperative was created in 1934.