Bachelor Examination Requirements Quiz

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Questions and Answers

What is required for participation in the Bachelor examination?

Completion of all elective modules

Passing a preliminary examination in all subjects

Submission of a thesis before the deadline

Registration with the central examination office (correct)

Which of the following is a part of the Bachelor examination?

Two module examinations and a thesis (correct)

An oral examination after each semester

A practical project in the area of specialization

Monthly quizzes across all subjects

What is indicated by the ECTS in the context of the examination?

European Credit Transfer System (correct)

Elective Certification Trainee System

Essential Course Teaching Standards

Examination Credit Tracking Service

When do the registration deadlines for the module examinations typically end?

Two weeks before the examination period Signup and view all the answers

Which of the following is NOT indicated as a requirement for the Bachelor examination?

A minimum grade in each module Signup and view all the answers

What is the primary focus of the course 'Doing Business in Germany'?

Learning about Germany's legal and taxation system Signup and view all the answers

Which of the following is a characteristic of Germany's economy?

It is the world's fourth largest economy Signup and view all the answers

What is the workload expected from students for this course?

75 hours Signup and view all the answers

What time is the 'Doing Business in Germany' course scheduled?

Tuesday 14:15 – 15:45 Signup and view all the answers

In which sector does Germany particularly excel?

Automobiles and Machinery Signup and view all the answers

Who is the instructor for the course 'Doing Business in Germany'?

Prof.Dr.Prof.h.c.Bernhard Schellberg Signup and view all the answers

What is the duration of the final exam for this course?

60 minutes Signup and view all the answers

Which of the following best describes Germany's workforce?

Highly skilled and educated Signup and view all the answers

What is a significant disadvantage of starting a business as a sole proprietor?

Unlimited personal liability for business debts Signup and view all the answers

What happens to the business's debts if a sole proprietor cannot repay them?

Creditors can claim personal belongings Signup and view all the answers

How does the life of a sole proprietorship relate to the proprietor?

It is limited to the life of the proprietor Signup and view all the answers

What is often a challenge faced by sole proprietorships in terms of growth?

They often lack sufficient capital Signup and view all the answers

What is a key characteristic of a sole proprietorship?

Unlimited personal liability Signup and view all the answers

Why might sole proprietorships be more common for small businesses?

They are straightforward to establish and manage Signup and view all the answers

What can occur if a sole proprietorship accrues significant debts?

Increased chances of bankruptcy for the owner Signup and view all the answers

What is a disadvantage that affects the transferability of a sole proprietorship?

It cannot be transferred if the proprietor is alive Signup and view all the answers

What is the minimum share capital required to establish a limited liability company (GmbH) in Germany?

25,000 euros Signup and view all the answers

Which statement is true regarding the nominal value of shares in a GmbH?

Nominal values must be in full euros. Signup and view all the answers

In the case of insolvency for a GmbH, which of the following statements accurately describes shareholder liability?

Shareholders can lose only the amount invested in the company. Signup and view all the answers

What designation must a company use if its share capital is below the legal minimum for a GmbH?

Entrepreneurial Company Signup and view all the answers

What happens to a GmbH's debts if its assets are liquidated and a shortfall remains?

The remaining debts fall on the shareholders based on their investment. Signup and view all the answers

Under the GmbHG, how is the total of all nominal values of shares related to share capital?

They must equal the share capital. Signup and view all the answers

What is a consequence if one shareholder of a GmbH cannot make payments towards debts?

The remaining shareholders may be called upon to cover the debt. Signup and view all the answers

Regarding the structure of shares in a GmbH, which statement is accurate?

Nominal values can vary among shares. Signup and view all the answers

Which statement about the initial registration of a Limited Liability Company is correct?

The full amount of the share capital must be deposited before registration. Signup and view all the answers

What is the minimum reserve requirement based on the annual surplus for a company?

One quarter of the annual surplus minus any losses carried forward. Signup and view all the answers

Under which circumstance must a shareholders' meeting be convened without delay?

When there is a threat of illiquidity. Signup and view all the answers

If a company increases its share capital, what happens to the previous regulations regarding share capital?

Regulations no longer apply if the new capital meets minimum requirements. Signup and view all the answers

What amount can be distributed to shareholders if a Limited Liability Company makes a profit of €10,000?

A portion must be reserved first, limiting the distribution. Signup and view all the answers

In which financial statement item should the remaining amount of unallocated profits be posted?

Retained earnings. Signup and view all the answers

What is not a purpose for which statutory reserves can be used?

Expanding the business operation. Signup and view all the answers

Which financial structure is suitable for starting a business with €5,000 without additional equity?

Limited Liability Company. Signup and view all the answers

What is the primary focus of the planned study approach at Hochschule Schmalkalden?

Recognition of qualified access rights for students Signup and view all the answers

Which group of students can participate in module examinations according to the regulations?

Students enrolled in academically relevant programs at other faculties Signup and view all the answers

What is a key consideration in allowing students from other faculties to participate in module examinations?

It should not significantly hinder the training of Wirtschaftsrecht students Signup and view all the answers

What does the term 'fachgebundene Hochschulreife' refer to in the context of the study regulation?

A vocational qualification specific to certain fields of study Signup and view all the answers

What is the overarching aim of the special study planning mentioned in the document?

To offer personalized academic paths for students Signup and view all the answers

Study Notes

Course Information

Course Title: English 1 (Key Qualifications Language 1)
Course Description: Doing Business in Germany
Professor: Prof. Dr. Prof. h.c. Bernhard Schellberg
Faculty: Business Law
University: University of Applied Sciences Schmalkalden/Germany
ECTS Credits: 2.5
Level: Bachelor
Course Assessment: Final Exam (60 minutes)
Total Workload: 75 hours
Start Date (2024): October 15th
Lecture Time: Tuesday, 14:15-15:45
Lecture Hall: D0301
Course Website: https://studip.hs-schmalkalden.de/dispatch.php/course/overview?cid=615c0ce56536530c7e16c0b9d54dca7d

Chapter 1: Introduction

Germany is the world's fourth-largest economy and a major driver in Europe
Germany's industry focus centers around engineering, especially in automobiles, machinery, metals, pharmaceuticals, and chemicals
Germany has a strong logistical and technological infrastructure, a skilled workforce, and a stable economy.
The course Doing Business in Germany covers the legal and taxation system in Germany.
It discusses establishing and operating companies (focus on limited liability), labor and tax framework, and commercial, antitrust, and intellectual property laws.
The course also provides information regarding access to capital markets and related banking and finance laws in Germany.
The course will emphasize legal terminology, case studies, and improving language skills relevant for business law discussions and negotiations.
Students will practice their spoken communication skills through presentations and debates on legal topics.
Collaborative group projects will foster teamwork and problem-solving skills.
Students are encouraged to use smartphones or tablets as aids for short presentations and discussions during lectures.

Chapter 2: Germany - An Overview

Baker & McKenzie presented at the course; they provided information on the career opportunities at their company.
The course first part discusses "Doing Business in Germany" based on a 2015 Baker & McKenzie publication.
The overview covers the political system, particularly any changes since 2015.
The course material requires students to analyze the "Civil Law" and "Common Law" systems.
The importance of Germany is justified by its Gross Domestic Product (GDP) and relative ranking in the global economy.
Students should use the provided sources to understand and explain GDP and its connection to a country's prosperity.
Recent importance of the BRICS countries (Brazil, Russia, India, China, and South Africa) is discussed, including their growing global influence and implications for international relations.
A lecture overview is to be prepared on these aspects.

Chapter 3: Legal Forms of Doing Business

Types of long-term finance classified as debt and equity.
When a firm borrows money, it promises to repay with interest in debt financing.
Debt holders can force bankruptcy if the firm doesn't fulfill this promise.
Equity financing does not offer such promises; equity holders are paid after any debt is satisfied.
Therefore equity is considered a residual claim.

1. Starting Up as a Sole Proprietorship

A sole proprietorship is an unincorporated business owned by one individual.
The owner keeps all the profits and bears all costs.
The owner is personally liable for all the firm's obligations.
Sole proprietorships are primarily used for small businesses.
Advantages: Ease of starting, few regulations, and no corporate taxation.
Disadvantages: Unlimited personal liability, difficulty obtaining significant capital for growth, and life limited to the owner's lifespan.
There is a closed-book exam on this topic with 10-minute questions about sole proprietorship characteristics, advantages, and disadvantages.

2. Partnership

A partnership is formed when two or more persons or entities associate for a for-profit, non-corporate business.
Partnership agreements outline decision-making structure and profit distribution.
Partners are liable for business obligations.

2. General Partnership (OHG)

OHG is a common partnership type in Germany for small and medium-sized trading companies.
OHG is not a legal entity, it owns partner assets and assumes liabilities.
Partners have joint and several liability for all liabilities.
Partnership agreements define decision-making and profit distribution among partners.
Similar advantages and disadvantages as a sole proprietorship.

3. Limited Partnership (KG)

Limited partnerships limit the liability of some partners to their contributions.
Typically, there are general partners with unlimited liability and limited partners.
Limited partners contribute capital with liability confined to the contributed amount. They cannot lose more than they invest.
The business operations are overseen by general partners.
The course includes discussion of an example case study.

4. Limited Liability Incorporated Entities

Limited liability companies (GmbH) and stock corporations (AG) offer limited liability to shareholders
These are legal entities.
The amount needed to start an GmbH or AG is a 25,000 Euro minimum for a GmbH.

4.1 Limited Liability Company (GmbH)

GmbH (Gesellschaft mit beschränkter Haftung) is formed by one or multiple persons for any purpose permitted by law.
The company is a legal entity with independent rights and obligations.
Company assets are separate from personal assets.
The company's obligations are to the extent of its assets. A specific form and amount of capital is needed for each company.
A meeting of shareholders must be held in case of illiquidity.
There is a case study for students to analyze.

4.2 German Stock Corporation (AG)

AG (Aktiengesellschaft) is one legal form with access to capital markets governed by German law.
Shares can be bearer shares (no register/unlimited) and registered shares (register/limited.).
The shares in an AG must have a minimum share capital of 50,000 euros.
A complex three-tiered organizational system is used, including management board, supervisory board, and general meeting.

4.3 Societas Europaea (SE)

SE is a European entity, governed by European community law and national laws.
SE helps manage cross-border business operations through a unified management approach.
The course material emphasizes SE as a convenient option for managing cross-border businesses.

5. Branch

Foreign companies can establish a branch or subsidiary in Germany.
Branches are used to pursue business activities and operations in Germany, but the branch isn't an independent legal entity; this includes an establishment and subsidiary.

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Description

Test your knowledge on the details required for participation in the Bachelor examination, focusing on the 'Doing Business in Germany' course. This quiz covers registration deadlines, ECTS indications, and characteristics of Germany's economy.