CBL-JJ21

Under the Law on Commercial Enterprises, which statement below is correct with respect to the display of a company’s or partnership’s name? 

• A partnership or company must display its name in Khmer language whereby the Khmer name must be larger than and placed above the name in another language. Translation of the partnership or company name from one language to another is prohibited – the name in Khmer must sound phonetically the same as the one in the other language. 

• A partnership or company must display its name in Khmer language whereby the Khmer name must be below and smaller than the name in another language. Translation of the partnership or company name from one language into another is prohibited – the name in Khmer must sound phonetically the same as the one in the other language. 

• A partnership or company must display its name in the Khmer language only. 

• None of the above 

Under the Law on Commercial Enterprises, what types of partnership may be established? 

• Public partnerships and general partnerships 

• Limited partnerships and general partnerships 

• A single member partnership and general partnership 

• None of the above 

Under the Law on Commercial Enterprises, which statement below is correct with respect to the nature of a general partnership? 

• A general partnership is a contract between two or more persons combining their assets, knowledge or activities to carry out business activities in common with a view towards establishing a non-profit organization. 

• A general partnership is a contract between two or more persons for the purpose of pooling only their finances to carry out business activities in common with a view towards generating profits. A partner cannot enter into a general partnership without making a financial contribution. 

• A general partnership is a contract between two or more persons combining their assets, knowledge or activities to carry on business operations in common with a view towards generating profits 

• None of the above 

Under the Law on Commercial Enterprises, which statement below is correct with respect to formation of a general partnership and legal personality? 

• A general partnership has legal personality separate to that of each of its partners, and such legal personality is established when the general partnership is registered in accordance with the Law on Commercial Rules and Registrar 

• A general partnership does not have a legal personality separate from that of each of its partners because a legal personality only applies to a natural person not a man-made entity. 

• A general partnership has legal personality separate from that of each of its partners, and such legal personality is established when the partners enters into the general partnership contract. 

• None of the above 

Under the Law on Commercial Enterprises, which statement below is correct with respect to the valuation of general partnership capital? 

• The computation of a general partnership’s capital shall not include contributions in the form of knowledge, services or activities. 

• In kind contributions shall be valued and all general partners must agree to the valuation 

• The capital of the general partnership shall include cash and in kind contributions 

• All of the above 

Under the Law on Commercial Enterprises, which statement below is correct with respect to the liability of a general partner and a limited partner? 

• Limited partners are only liable to the extent of the sum of money or value of the property they agree to contribute 

• General partners are jointly and severally liable for the debts of the partnership to third parties 

• General partners are responsible for the management of a limited partnership, and that limited partners are not allowed to participate in the management of the limited partnership business with some exceptions under the Law on Commercial Enterprises 

• All of the above 

Sok and Sam wish to form a company to provide delivery services in Phnom Penh. Under the Law on Commercial Enterprises, what is the most suitable form of business entity that they should set up: 

• A limited partnership 

• A general partnership 

• A private limited company 

• A public limited company 

Under the Law on Commercial Enterprises, which statement below is correct with respect to the nature of a private limited company: 

• A private limited company may have 2 -30 shareholders 

• One person may form a company called a single member private limited company. 

• A private limited company may offer its shares or other securities to the general public 

• A and B 

Under the Law on Commercial Enterprises, what is the minimum number of shares that a private limited company must issue? 

• 50 shares 

• 100 shares 

• 1,000 shares 

• 2,000 shares 

ABC Co., Ltd. submitted its application for company registration on 20 January 2020. The Ministry of Commerce issued a certificate of incorporation stating that ABC Co., Ltd. was incorporated on 4 February 2020. ABC Co., Ltd. hired its first employee on 11 March 2020 and commenced business operations on 20 March 2020. Pursuant to the Law on Commercial Enterprises, when did ABC Co., Ltd. come into existence and acquire legal personality? 

• 20 January 2020 

• 4 February 2020 

• 11 March 2020 

• 20 March 2020