In which of the following organizations are members entitled to one vote, irrespective of the number of shares held?

Assessment: JAMB UTME - Commerce - 2025 Subject: Commerce

Question 1 Report

In which of the following organizations are members entitled to one vote, irrespective of the number of shares held?

 

Answer Details

In a limited company, voting power at meetings is normally tied to the number of shares a person owns, so a shareholder with more shares has more say than one with fewer shares. This is different in organisations that are built around equal membership rather than capital contribution.

A co-operative society is founded on the principle of democratic control, where every member has an equal say in decisions regardless of how much money or how many shares they have contributed. This is why each member of a co-operative society is entitled to exactly one vote, no matter the size of their holding.

In a partnership, voting rights usually follow the partnership agreement and capital contributions, in a limited company voting follows shareholding, and in a public corporation decisions are made by government-appointed boards rather than by a one-member-one-vote system. None of these gives every member an automatically equal vote in the way a co-operative society does.

Remember the co-operative principle as "one member, one vote": it is the feature that distinguishes co-operative societies from profit-driven, capital-weighted organisations.

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