Corporations and Control in Ecuador

Quiz

Played 0

Create copy

About this activity

Corporate law quiz (EN)

Created by

Jenny Brillit Muñoz Carbo

Ecuador

Download the paper version to play

Top 10 results

There are still no results for this game. Be the first to stay in the ranking! Log in to identify yourself.

Make your own free game from our game creator

Compete against your friends to see who gets the best score in this game

Make challenge

UPS 5 Seeing Habits Quiz

Heather Bell

United States

(12)

Test your knowledge about the 5 seeing habits discussed in the text 'UPS 5 seeing habits'.
Practice Quiz - Punnett Square, Variation, and Mutations

Benjamin D Morgan

United States

(14)

Practice Quiz - Punnett Square, Variation, and Mutations
Spanish Alphabet Listening

Falkenberg Falkenberg

United States

(88)

Spanish alphabet, listening-based assessment
Tissues - Practice Quiz

Benjamin D Morgan

United States

(16)

Tissues - Practice Quiz
Photosynthesis vs Cellular Respiration - Practice Quiz

Benjamin D Morgan

United States

(39)

Photosynthesis vs Cellular Respiration - Practice Quiz

		%
	Anonymous	%
		%
		%

Print your game

Corporations and Control in Ecuador


Corporations and Control in EcuadorOnline version Corporate law quiz (EN) by Jenny Brillit Muñoz Carbo 1 1. Main difference between a public limited company (SA) and a private company (LLC) a In a public limited company, capital is divided into shares and liability is limited to contributions; in a limited company, capital is divided into participations and liability is also limited to the contribution. b Public companies have unlimited liability. c They are the same in capital structure. d Public companies are not allowed to issue shares. 2 2. Name 3 types of empresas in Ecuador a 1- Sociedad Anónima; 2- Compañía Limitada; 3- S.A.S. Empresa Individual de responsabilidad limitada b 4- Sociedad Colectiva; 5- Sociedad Civil; 6- Sociedad en Comandita por Acciones 3 3. Role of the Superintendence of Companies, Securities and Insurance a Controls, watches over, and regulates companies, securities markets, and insurance. b Manages private investment funds. c Sets tax rates for corporations. d Grants licenses to all businesses. 4 4. Purpose of registering a company in the mercantile registry a To grant legal existence, publicize acts, and give the company juridical personality. b To create tax obligations only. c To separate the company from the state. d To avoid annual reporting. 5 5. Characteristics of a sole proprietorship a Requires at least two owners. b Owned by a single natural person who assumes all liability. c Liability is limited to the initial investment. d Is always a public company. 6 6. Distinction: mixed economy company vs. anonymous company a There is no difference. b A mixed-economy company (CIA) has both public and private capital; an anonymous company is private capital only. c A mixed company has no capital; an anonymous company has unlimited capital. d An anonymous company is government-owned. 7 7. Minimum capital to form an anonymous company in Ecuador a Varies by current regulations; currently there is no explicit minimum legal minimum for creation, but there may be for operation. b Fixed at 50,000 USD. c Fixed at 1,000 USD. d There is no capital requirement for any company. 8 8. Regulatory bodies overseeing banks in Ecuador a Ministry of Economy b Superintendence of Banks c Superintendence of Securities d Central Bank of Ecuador 9 9. Which company type is ideal for a business with few partners and limited liability? a Sociedad Anónima b Compañía Limitada (Limited Company) c Cooperative Society d S.A.S. 10 10. Liability of partners in a limited company a Liability limited to the amount of their contributions or participations in the capital. b Liability limited to one’s salary. c Liability is unlimited. d Liability extends to personal assets beyond contributions. 11 11. What is a foreign branch and how is it governed? a A branch of a company from another country; it must follow the laws of the country where it operates and those of its parent company. b A subsidiary; governed exclusively by local laws. c A separate company; governed only by its home country. d Not allowed to operate internationally. 12 12. Primary objective of control organisms (regulators) a Ensure compliance with the law, protect market participants, guarantee transparency and stability. b Promote only investor profits. c Sets wage standards. d Manages tax collection exclusively. 13 13. Implications of non-compliance with regulations a Tax refunds only. b Fines, sanctions, interventions, dissolution or liquidation of the company. c No penalties. d Public commendation. 14 14. What is a holding company? a A micro-enterprise only. b A company that only produces goods. c A company whose main activity is holding or managing shares/participations of another company. d A company focused on consumer services. 15 15. Difference between merger and acquisition a Merger is illegal. b They are the same concept. c Merger is the joining of two or more companies to form a new one or to integrate one into another; acquisition is when one company buys control of another. d Merger is when a company dissolves; acquisition is when it grows. 16 16. What is dissolution of a company? a A change of country of incorporation. b The legal act that ends the corporate life of a company, prior to liquidation. c A temporary shutdown without ending legal status. d Only applicable to banks. 17 17. How does the Commercial Code relate to types of companies a It only covers taxes. b It is the legal framework regulating commercial activities and establishing norms for incorporation and operation of mercantile companies. c It applies only to civil firms. d It is optional guidance with no legal force. 18 18. Function of the general meeting of partners or shareholders a Supreme governing body responsible for key decisions (approval of financial statements, appointment of management, etc.). b A regulatory body external to the company. c An entity with no real power. d A purely advisory body. 19 19. Advantages of a public limited company for capital acquisition a Increases liability for managers. b Reduces corporate governance quality. c Limits ability to raise funds. d Facilitates raising large amounts of capital through share issuance and access to capital markets. 20 20. Disadvantages of a limited company vs. a public limited company a Less ease in raising large capital, transfer restrictions on participations, and less flexibility. b No differences exist. c Greater ease in raising capital, easier transfer, and more flexibility. d Limited companies have more capital access.

You can integrate the game into an LMS compatible with LTI 1.1 or LTI 1.3 such as Canvas, Moodle, or Blackboard. This way, the scores will be automatically saved into the platform’s gradebook.

Corporations and Control in Ecuador

Quiz

About this activity

Created by

Download the paper version to play

Top Games

Quiz

UPS 5 Seeing Habits Quiz

Quiz

Practice Quiz - Punnett Square, Variation, and Mutations

Quiz

Spanish Alphabet Listening

Quiz

Tissues - Practice Quiz

Quiz

Photosynthesis vs Cellular Respiration - Practice Quiz

Corporations and Control in EcuadorOnline version

by Jenny Brillit Muñoz Carbo

1. Main difference between a public limited company (SA) and a private company (LLC)

2. Name 3 types of empresas in Ecuador

3. Role of the Superintendence of Companies, Securities and Insurance

4. Purpose of registering a company in the mercantile registry

5. Characteristics of a sole proprietorship

6. Distinction: mixed economy company vs. anonymous company

7. Minimum capital to form an anonymous company in Ecuador

8. Regulatory bodies overseeing banks in Ecuador

9. Which company type is ideal for a business with few partners and limited liability?

10. Liability of partners in a limited company

11. What is a foreign branch and how is it governed?

12. Primary objective of control organisms (regulators)

13. Implications of non-compliance with regulations

14. What is a holding company?

15. Difference between merger and acquisition

16. What is dissolution of a company?

17. How does the Commercial Code relate to types of companies

18. Function of the general meeting of partners or shareholders

19. Advantages of a public limited company for capital acquisition

20. Disadvantages of a limited company vs. a public limited company