A Directors Declaration in Accordance with the Corporations Act, Must

question 77

Multiple Choice

A Directors Declaration in accordance with the Corporations Act, must state the directors are satisfied the financial statements:

• A) comply with applicable accounting standards.
• B) are in accordance with the Act.
• C) give a true and fair view.
• D) all of the above

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Definitions:

Current Liabilities

Short-term financial obligations that are due within one year or within the normal operating cycle of the business.

Free Cash Flow

The amount of cash generated by a business after accounting for operational expenses and capital expenditures, reflecting the liquidity available for shareholders.

Cash Dividends

Payments made by a corporation to its shareholder members. It is the share of profits distributed in the form of cash.

Direct Method

A way of preparing cash flow statements where actual cash inflows and outflows from operational activities are listed.