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Entrepreneurship Sophomore

Total questions: 20

Worksheet time: 7mins

Name
Class
Date
1.

In an invoice, you have the information of?

a)

The buyer

b)

The company  

c)

The seller

d)

All of the above

2.

The VAT is ______

a)

The price that we pay for a product or service

b)

An amount of money that we have

c)

An additional amount to the price of a product or service

d)

The money that the company has

3.

The state body that regulates work relationships in Ecuador is

a)

The Ministry of Finances

b)

The Ministry of Education

c)

The Ministry of Labor

d)

The Ministry of Health

4.

Which is the law that regulates labor relations?

a)

Organic Labor Code

b)

Organic Labor Regulation

c)

Organic Labor Law

d)

Organic Norms

5.

A regular working schedule is of

a)

6 hours

b)

9 hours

c)

7 hours

d)

8 hours

6.

How much is the VAT of the following amount $ 4,897.55

a)

$ 578.70

b)

$ 587.70

c)

$ 5,485.25

d)

$ 5,470.25

7.

How much is the VAT of the following amount $ 825.71

a)

$ 99.08

b)

$ 924.79

c)

$ 90.08

d)

$ 942.79

8.

According to the table of VAT Withholdings, when a special taxpayer leases an office, the VAT Withholding regarding products and service are:

a)

Goods 100% / Services 0%

b)

Goods 0% / Services 30%

c)

Goods 70% / Services 30%

d)

Goods 0% / Services 100%

9.

What is the total, including VAT, of the following invoice: $ 163.08

a)

$ 189.64

b)

$ 182.46

c)

$ 182.64

d)

$ 189.52

10.

In Income Tax Withholdings, the percentage of services has a _____ withholding

a)

1 %

b)

10 %

c)

2 %

d)

12 %

11.

What is the surplus fraction tax, if the basic fraction tax is $ 8,513.00?

a)

20 %

b)

30 %

c)

25 %

d)

35 %

12.

If the surplus fraction is 10%, the basic fraction tax is ______

a)

$ 0

b)

$ 515

c)

$ 155

d)

$ 949

13.

The money of the Income Tax Withholding goes to the

a)

CFN

b)

MSP

c)

IESS

d)

SRI

14.

It is applied to natural person, companies whether national or foreign taking into account how much they make

a)

Expense Tax

b)

Income Tax

c)

Inside Tax

d)

Outside Tax

15.

When you work in a company or in someone’s entrepreneurship a _____ is created  

a)

Dependency relation

b)

Independency relation

c)

Undependency relation

d)

Close relation

16.

It allows that the governments provide services to people who don’t have access to them

a)

Incomes

b)

Expenses

c)

Taxes

d)

Withholdings

17.

The contribution to the IESS is divided between how many parts

a)

2

b)

6

c)

4

d)

8

18.

Taxes operate on the principle that the more income a person has, the more taxes they must pay.

a)

General Principle

b)

Equity Principle

c)

Principle of Efficiency

d)

Progressivity Principle

19.

What is the percentage of a personal contribution to the IESS?

a)

12 %

b)

9.45 %

c)

11.15 %

d)

20.60 %

20.

Taxes aim to properly distribute

a)

Incomes

b)

Expenses

c)

Money

d)

Wealth