Subject: COMMERCIAL LAW

TRUE OR FALSE

1. The types of companies in China are limited to limited liability companies and joint stock limited companies.

2. The subsidiary does not have the legal person status and cannot independently bear civil liability.

3. The company's assets in the legal sense are also the registered capital.

4. If the shareholders of a one person limited liability company cannot prove that the company's property is independent of the shareholders' own property, they shall be jointly and severally liable for the company's debts.

5. Controlling shareholders refer only to shareholders whose capital contribution or shareholding ratio is more than 50%.

6. The shareholders of the Company shall not be responsible for the debts of the Company after they have completed their capital contribution obligations.

7. A listed company shall establish an independent director system.

8. The liquidation group of a limited liability company shall be composed of shareholders.

9. Not all financial reports of the Company need to be audited by an accounting firm.

10. The date of issuance of the Company's business license is the date of establishment of the Company.