Multiple Choice Question Bank

1, According to the LOE 2020, which of the following is not true about LLC 2+?
A. The company can be owned by both individuals and organizations
B. The charter capital can be decreased
C. The company can not have more than 50 employees
D. The company can be transformed into joint stock company
2, Which of the following is an enterprise?
A. 19/5 Transportation Cooperative
B. Bun Bo Song Anh Business Household
C. Vietsovpetro
D. None of above
3, According to the LOE 2020, which of the following is not correct about
dissolution of enterprises?
A. Enterprise can be dissolved in case of an expired business registration
certificate
B. Managers of dissolved of enterprises are limited to hold other management
position in any other enterprises within 1 year
C. A dissolved enterprise will cease to exist
D. Dissolution of enterprises will be settled by business registration offices
4, According to the LOE 2020, which of the following enterprises can raise funds
by issuing shares?
A. LLC 2+
B. Joint stock company
C. LLC 1
D. Both a and b
5, According to the LOE 2020, which of the following enterprises can raise funds
by issuing bonds?
A. LLC 2+
B. Joint stock company
C. LLC 1
D. All of the above

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6, According to the LOE 2020, which of the following enterprises could have more
than 50 members?
A. LLC 2+
B. Joint stock Company
C. State-owned enterprise
D. Both B and C
7, To whom should a request for a business registration certificate be submitted?
A. Department of Planning & Investment
B. Department of Home Affairs
C. Department of Industry & Trade
D. Center for Trade Promotion & Investment (ITPC)
8, Anh Dung, 20 years old, wants to establish an enterprise in which he has full
control of the business operation. Which of the following types of enterprise may
he consider?
A. Partnership
B. Private enterprise
C. Business household
D. Both B and C
9, According to the LOE 2020, the owners of which enterprise have limited
liability?
A. Private enterprise
B. Partnership
C. Household business
D. Joint stock company
10, According to the LOE 2020, which of the following shares in the Joint stock
company cannot be transferred?
A. Common share
B. Voting preference share
C. Share with preferred dividends
D. Redeemable preferred share

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11, According to the LOE 2020, which kind of enterprise could be a state-owned
enterprise?
A. LLC1
B. Private enterprise
C. Partnership
D. LLC 2+
12, According to the LOE 2020, how to decrease the charter capital in LLC1?
A. Buying back part of the contributed capital
B. Returning part of the contributed capital to their owner
C. Transferring part of the capital to others
D. Both A and B
13, According to the LOE 2020, who can convene the meeting of Members’
Council in LLC2+?
A. Chairman of the Members’ Council
B. General Director
C. Inspection Board
D. All of the above
14, Which of the following is not correct about private enterprise?
A. Private enterprise has no legal entity
B. The owner of private enterprise must act as plaintiff/defendant when the
enterprise settle a dispute at court
C. The owner of private enterprise is the highest decision making authority
D. The owner of private enterprise is responsible for all debt and liabilities to
the extent of his/her capital contribution
15, Which of the following enterprises has no legal entity?
A. Household Business
B. Partnership
C. LLC
D. None of the above
16, Which of the following enterprises has no at-law representative?
A. Private enterprise
B. Partnership

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 C. LLC 2+
D. None of the above
17, Which of the following enterprises is not allowed to reduce charter capital?
A. Private enterprise
B. LLC
C. Joint stock company
D. None of the above
18, Which of the following enterprises may not have a company's charter?
A. Private enterprise
B. Partnership
C. Joint stock company
D. Household business
21, According to the LOE 2020, what percentage of the charter capital is owned by
the State so that the enterprise be classified as a State-owned enterprise?
A. 36%
B. 51%
C. 75%
D. 100%
22, Select the incorrect answer. According to the LOE 2020, the partnership
accounting firm established in Vietnam
A. Could have both General Partners and Limited Liability Partners
B. Could have both Unlimited Liability Partners and Limited Liability Partners
C. Shall enjoy legal entity status from the date of issuance of the company’s
charter
D. Could have only General Partners
23, How many ways to restructure an enterprise?
A. 1
B. 2
C. 3
D. 5
27, Which of the following enterprises can be leased?

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 A. Household business
B. Private enterprise
C. LLC 1
D. Both A and B
28, According to the LOE 2020, what is the minimum voting percentage in order
for the Resolution of the Members’ Council to be ratified in the case of converting
a LLC2+ into a joint stock company?
A. 65% of the total contributed capital
B. 75% of the total contributed capital
C. 65% of the total contributed capital amount of the attending members
D. 75% of the total contributed capital amount of the attending members
29, Which of the following does not belong to the right & obligation of the Board
of Management?
A. Decide solutions for market development, marketing, and technology
B. Propose types of shares and total authorized shares of each type
C. Propose restructuring, dissolution, petition for bankruptcy of the company
D. Decide types of shares and total authorized shares of each type
31, Which of the following would pay tax based on the income it gains over a
period of time? (Hint: The higher the income, the higher percent of tax it will pay)
A. Private enterprise
B. Partnership
C. Household business
D. None of the above
32, According to the LOE 2020, what is the minimum voting percentage in order
for the Resolution of the General Meeting of Shareholders to be ratified in the case
of converting a joint stock company into a LLC2+?
A. 65% of total votes of the whole enterprise
B. 51% of total votes of the whole enterprise
C. 51% of total votes of attending shareholders
D. 65% of total votes of attending shareholders
33, According to the LOE 2020, which type of LLC may not have an Inspection
Committee?

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 A. LLC1 owned by organization which has Members’ Council
B. LLC1 owned by organization which has no Members’ Council
C. LLC2+
D. None of the above
35, Which of the following is not a characteristic of a private enterprise?
A. Private enterprise has unlimited liability characteristic
B. Private enterprise can be sold
C. Private enterprise cannot issue securities
D. Private enterprise can be owned by an individual or an organization
36, Which of the following is not true regarding the structure of LLC2+?
A. LLC2+ must always have a Members’ Council
B. LLC2+ must always have an Inspection Committee
C. The Chairman of the Members’ Council can also serve as the General
Director of the company
D. The Members’ Council is the highest decision-making authority of the
company
E. None of the above
Dũng Vũ, Gareth Price, Justin Cooke, and Troy Edwards together established a
partnership law firm called “Vũ Price Cooke Edwards”with 2 offices in Hanoi and
Ho Chi Minh City. All these 4 people are Name Partners and General Partners of
the firm. After 6 months of operations, the firm admit one Limited Liability Partner
who is Mr. Peter Banks
38, If one day Mr. Vũ want to leave the firm then:
A. Mr. Vũ can leave if Mr. Price and Mr. Cooke approve
B. Mr. Vũ cannot leave unless Mr. Price, Mr. Cooke and Mr. Edwards approve
C. Mr. Vũ cannot leave unless all the other members approve
D. Mr. Vũ is not allowed to leave under any circumstances
E. None of the above
39, If Mr. Edwards conduct business activities which are beyond the registered line
of business then:
A. Mr. Edwards will be terminated from the company as such actions are
restricted
B. Mr. Edwards will be brought to the court

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 C. Mr. Edwards has to compensate for “Vũ Price Cooke Edwards”
D. No action should be taken as such business activities will not fall within the
liabilities of the company
40, If Mr. Cooke is declared missing then:
A. His status as General Partner will be terminated
B. Mr. Cooke’s contributed assets will remain in the company until his return
C. Mr. Cooke’s heir will be enrolled and replaced Mr A as another General
Partner of the company
D. Mr. Banks will automatically become a General Partner so as to replace Mr.
Cooke