Question

Which of the following is not a statutory reserve?

• A. Co-operative Education Fund
• B. Reserve Fund
• C. Common Good Fund
• D. Member Relief Fund

Answer 1

Answer:

C. Common Good Fund

The Statutory reserves are reserves required by law for cooperative societies, such as: Co-operative Education Fund Reserve Fund Member Relief Fund The Common Good Fund is also typically considered a statutory or legally mandated fund in many cooperative statutes. on the other hand, is voluntary and not a statutory reserve, so it does not qualify as a statutory reserve.