GEFE unit 2 review

Indicate which of the following sentences is correct:

• The individual entrepreneur has restricted liability for the debts of his business.
• The individual entrepreneur must register his business in the Trade Registry.
• The individual entrepreneur must contribute at least 3,000 euros to the capital of his company.
• None of the above is correct.

Indicate which of the following statements is correct:

• The community of property is a company with its own legal personality.
• Civil society arises when two people have ownership or ownership of one thing or undivided right.
• In civil society, the contributions of the partners may consist on money, goods or industry.
• None of the above.

Indicate which of the following sentences is correct:

• Collateral liability means that the company is first liable for its debts and, secondly, the partners.
• Supportive liability means that payment of debts can be demanded from each of the partners or from one of them individually.
• Unlimited/unrestricted liability means that the partners must respond to company debts with their present and future assets.
• All of the above statements are correct.

Indicate which of the following statements is correct:

• The industrial partners of a partnership participate in its management.
• The collective partners of a general partnership do not participate in the management of the partnership.
• The name of a partnership must include the initials S. en C. or S. Com.
• None of the above is correct.

Indicate which of the following sentences is correct:

• The partnership does not need a minimum capital for its constitution.
• The partners of a limited company have unlimited liability.
• Labor companies require a minimum of three partners, of which one of the partners must be a working partner.
• The limited partnership is capitalist.

Indicate which of the following statements is correct:

• The limited company requires a minimum capital of €60,000 in shares from the first year of its start-up.
• To set up a limited company, at least two partners are required.
• The minimum share capital is €15,000 fully paid up at the time of set up.
• The minimum share capital is €16,000 fully paid up at the time of set up.

Indicate which of the following sentences is correct:

• The limited company needs 3,000 euros in fully paid-up shares for its set up.
• The limited company needs €60,000 in shares for its set up, paid up 25%.
• The limited company needs €3,000 in nominal and individual and fully paid-up shares for its set up.
• All of the above are correct.

Indicate which of the following propositions is correct:

• First degree cooperatives are formed by legal persons.
• A minimum number of two partners is required to set up a first degree cooperative.
• Labor companies are made up of worker and industrial partners.
• None of the above is correct.

Indicate which of the following statements is correct:

• The limited partnership new company can be set up electronically.
• The maximum number of partners that a limited partnership new company can have is five.
• The limited partnership new company can carry out any type of activity.
• All of the above are correct.

Indicate which of the following senteces is correct:

• Limited partnership joint-stock is regulated by the Capitalist Companies Law.
• The individual entrepreneur is a natural person to whom both the Civil Code and the Commercial Code apply.
• Cooperative societies have a specific regulation,
• All of the above are correct.