Multiple Choices - Business Law

1 Definition of Corruption: “Corruption” means an officeholder’s abuse of his/her official capacity

for personal gain.

2 Of the four types of businesses, which one has a legal entity?

Private enterprises

3 Which type of enterprise has the right to issue shares?

Joint Stock Company

4 How many types of companies are there?

a. Joint-stock company, single-member or multi-member limited liability company
b. Joint-stock company, single-member or multi-member limited liability company, partnership
c. Joint-stock company, single-member or multi-member limited liability company, partnership,
group of companies
d. Joint-stock company, single-member or multi-member limited liability company, partnership,
group of companies, and private enterprises

5 Which type of enterprise has the right to issue different types of shares?
Joint Stock Company (JSC)

6 The number of members of a limited liability company with two or more members:
A minimum of 2, a maximum of 50

7 A partnership company must have at least how many members as company owners: 2 members

8 How many members are required at a minimum for a joint-stock company?

3 members

9 A joint-stock company has no limit on the maximum number of employees.

10 The entities eligible to establish a business are

a. Only individuals and organizations with Vietnamese nationality
b. All individuals and organizations regardless of nationality
c. Individuals with legal capacity and organizations with legal status
d. All individuals and organizations not prohibited from establishing a business under the law

11 Which of the following entities is prohibited from establishing a business under all circumstances:
A. Government officials and public employees
Cadres [senior employees], state officials, and state employees

12 Which of the following business types is not a business enterprise?

A. Private enterprise
B. Single-member limited liability company
C. Partnership company
D. Household business

13 Which of the following types of organizations are authorized to issue bonds:

a. Limited Liability Company with 2 or more members.
b. Limited Liability Company with 2 or more members.
c. Partnership.
d. All of the above.

14 A business issuing bonds is a joint-stock company or a limited liability company established and
 operating under Vietnamese law.

15 For a Joint Stock Company, common shareholders must fully pay for the committed shares within
the following time frame:
a. 30 days from the date the company is issued the business registration certificate.
b. 60 days from the date the company is issued the business registration certificate.
c. 90 days from the date the company is issued the business registration certificate.
d. 120 days from the date the company is issued the business registration certificate.

16 What is the deadline for common shareholders to fully pay for the committed shares from the
date the company is granted the business registration certificate?
90 days

17 A joint-stock company has legal entity status when:

a. Registering for business
b. Being granted a business registration certificate
c. Upon filing for company incorporation
d. All of the above are incorrect

18 The differences between general partners and limited partners are as follows:
a. General partners must be liable with all their assets for the company's obligations, whereas
limited partners are only liable up to the amount of their capital contribution.
b. General partners have the right to manage and operate the company, while limited partners do
not.
c. General partners are not allowed to be the owner of another sole proprietorship or to be a
general partner in another partnership, whereas limited partners are permitted to do so.
d. All of the above statements are correct.

19 Which of the following business entities does not have a legal entity
a. Joint-stock company
b. Partnership company
c. Sole trader
d. All three statements are incorrect

20 Which of the following characteristics accurately describes a partnership company:

A. Has a minimum of 2 members
B. Is a business entity without a legal personality
C. Members have unlimited liability
D. Can issue securities

21 The legal representative of a joint-stock company is the General Director if the company's charter
does not stipulate otherwise.

22 In a single-member limited liability company, the owner can be an individual or an organization.

23 A Limited Liability Company has the right to issue bonds.

24 The Constitution is promulgated by the State. The National Assembly, considered the 'highest
state authority,' has the power to enact the Constitution.

25 A legal entity plays an important role in the life of society, so Vietnamese law has specifically
stipulated this in the Civil Code.

26 The charter capital is The contributed capital of the members, which is recorded in the
company's charter.
27 The legal capital is: The minimum required capital to establish a business.

28 In a private enterprise that hires a director to manage its operations, the former legal
representative is the owner of the enterprise.

29 The highest authority of a Joint Stock Company is: The General Meeting of Shareholders

30 The first meeting of the Members' Council in a limited liability company with one or more
members is only valid if attended by members representing 75% of the charter capital.

31 According to the Securities Law of Vietnam, the face value of a share equals One share.

32 Shares are represented in the form of a certificate known as Registered Shares.

33 Shares are divided into two types: common shares and preferred shares.

34 One or more shareholders holding over 50% of the total outstanding common shares
continuously for a period of 6 months have the right to nominate or appoint members to
participate in the Board of Directors.

35 The forms of investment known as BCC, BOT, BTO, and BT contracts are forms of direct
investment.

36 The Economic Court is established within the District People's Court.

37 The resolution of the shareholders' general meeting may be subject to court review for annulment
within a period of 90 days from the date of its adoption.

38 The procedure for applying interim injunctions is applicable at which stage of the adjudication
process: Any stage.

39 Disputes shall be resolved through arbitration if the parties agree to arbitration in the contract.

40 The Economic Division within the Supreme People's Court specializes in:
- Adjudicating appeals against judgments of provincial economic courts or protests against their
rulings.
- Adjudicating as the court of first instance or appellate instance in economic cases whose
judgments have legal effect and are subject to protests.

41 The appellate court panel comprises three judges and, if necessary, may include two alternates.

42 The deadline for appeal for adjudication through directorial procedure commences from the date
of the judgment. The regulation is effective for 2 years.

43 The appellate court at the provincial level is the Provincial People's Court Judges Council.

44 The deadline for lodging an appeal for appellate review from the date of judgment or from the
date the verdict is served to the defendant is 15 days.

45 "Loss carryforward" is one of the investment incentives under the 2005 Investment Law. The
period for loss carryforward shall not exceed 5 years.

46 According to the Investment Law of 2005, one of the investment incentives is the depreciation of
 fixed assets with a maximum depreciation rate of 2 times the depreciation rate under the regime
of fixed assets.

47 According to the Investment Law of 2005, the normal land use term for a project shall not exceed
50 years.

48 When contributing capital to a company in the form of assets, it is necessary to evaluate and
transfer ownership rights to the company.