Which of the following is not a statutory reserve?
ACo-operative Education Fund
BReserve Fund
CCommon Good Fund
DMember Relief Fund
Answer:
C. Common Good Fund
Read Explanation:
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.