Concept:A co-operative society is democratically controlled by its members.
Every member has equal voting power, regardless of the amount of capital contributed.
Explanation:In a co-operative society, the members are usually the same people who buy from or use the society, so owners are the customers.
Capital contributed by a member can be repaid when that member withdraws from the society according to the rules.
However, votes are not based on the number of shares held.
A co-operative society follows the principle of one member, one vote.
Therefore, statement C is not true of a co-operative society.
Dividends in a co-operative society are distributed based on each member’s patronage, not on shareholding.
So the feature that is not correct is the one that says votes are according to shares held.
Answer:C. Votes are according to shares held.