Which feature does NOT belong to cooperatives owned by workers or customers?

Prepare for the ACCA F1 Certification Exam with detailed quizzes featuring multiple choice questions and explanations. Enhance your understanding and ensure success in your exam!

Cooperatives are unique business entities that emphasize collective ownership and decision-making by their members. The feature pertaining to the cooperative dissolving if any member quits does not align with the principles of cooperatives. In fact, cooperatives are designed to exist independently of the individual members, meaning that the departure of a single member does not lead to the dissolution of the cooperative. This characteristic enhances stability and sustainability, allowing the cooperative to continue its operations even as membership may fluctuate.

Open membership, democratic control, and distribution of surplus according to purchases are core attributes of cooperatives. Open membership promotes inclusivity, ensuring that anyone who meets specific criteria can join. The principle of democratic control means that all members have an equal voice in decision-making, reinforcing the cooperative's foundational belief in equality. Lastly, the principle of surplus distribution based on purchases ensures that benefits are allocated fairly among members, proportional to their level of participation. Together, these traits support the cooperative's mission of serving its members' interests.

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