CBL-Midterm-002

Under the 2005 Law on

Commercial Enterprises as amended

(LCE), which of the following

business entities has unlimited

liability?

• Sole proprietorship.

• Private limited liability company.

• Public limited liability company.

• Single-Member Private Limited

  Company

Under the 2005 Law on

Commercial Enterprises as amended

(LCE), a sole proprietorship has the

following characteristic:

• Limited liability

• One or more shareholders

• The board of directors has up to 2

  members only

• One shareholder

Under the LCE, a business entity

acquires Cambodian nationality

when:

• As long as it is registered in

  Cambodia, regardless of any other

  conditions

• As long as its place of operations is in

  Cambodia, regardless of any other

  conditions

• One of its minority shareholders has

  Cambodian nationality

• None of the above

Under the LCE, a general

partnership corresponds to the

following characteristic:

• When there are at least two partners

• When at least one partner is a

  general partner

• When all the partners are jointly and

  severally liable

• When one partner assumes all liability

  for everyone else

Under the LCE, a limited partner

in a limited partnership:

• Assumes all sorts of liabilities of the

  limited partnership

• Assumes only the liabilities of the

  general partners

• Has his/her liability up to the

  capital he/she has invested

• Can make decisions for the limited

  partnership

Under the LCE, which of the

following statements is correct with

regards to the capital of a private

limited liability company:

• Everyone must put in an equal amount

  of capital

• The wealthiest shareholder must put

  in the most capital

• In case the articles of incorporation do not specify the number of shares and their par value, a limited company must issue at least 1000 shares with each share having a par value of at least 4000 riel

• None of the above

Under the LCE, shares of a

limited liability company can be:

• In cash, in-kind, past services

• In cash only

• In cash and in-kind only

• None of the above

Under the LCE, which of the

following is the special feature of a

public limited company?

• A company with a minimum capital of

  USD 10 million

• A company with a minimum number

  of 30 shareholders

• The board of directors must have

  at least 3 members

• None of the above

Under the LCE, on which date the

company receives its legal entity

status?

• On the day the board of directors are

  appointed

• On the day the main shareholder pays

  up his capital

• On the date shown on its certificate of incorporation

• On the date its articles of

  incorporation are submitted to the

  ministry of commerce

Which institutions are the main

ones to file documents to in order to

establish a new company?

• Ministry of commerce only

• Ministry of Labor and Vocational

  Training only

• Ministry of commerce, ministry of

  labor and vocational training, the

  general department of taxation, and

  the national social security fund

• A company registration agency