The Corporations Act Requires Which of the Following to Be

question 31

Multiple Choice

The Corporations Act requires which of the following to be included in a Directors' Declaration?

• A) State whether in their opinion the financial statements comply with accounting standards and the Corporations Act.
• B) State whether in their opinion the financial statements give a true and fair view of the financial position and financial performance of the entity.
• C) State whether or not in their opinion, when the declaration was made, there were reasonable grounds to believe that the company would be able to pay its debts as they become due.
• D) All of the given answers.
• E) None of the given answers.

---

Definitions:

Means-ends Rationality

A decision-making process where actions are planned to achieve specific goals, emphasizing efficiency and the logical selection of means.

Value Rationality

A type of action motivated by beliefs in the inherent value of certain ethical, aesthetic, or religious convictions, irrespective of potential outcomes.

Collective Action

A process where individuals come together to achieve a common objective, often overcoming personal self-interest for the good of the community.

Ideal Type

A conceptual model used in sociology that describes a pure form of a given social phenomenon, serving as a standard against which real phenomena can be compared.