The Companies Act Requires Which of the Following to Be

question 27

Multiple Choice

The Companies Act requires which of the following to be included in a Directors' Responsibilities statement?
I.State whether in their opinion the financial statements comply with accounting standards and the Corporations Act.
II.State whether in their opinion the financial statements give a true and fair view of the financial position and financial performance of the entity.
III.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.
IV.State details of directors' emoluments.
V.State principal activities of the entity.

• A)All of the given answers are correct.
• B)I, II and III only
• C)I, II, III and IV only
• D)IV and V only

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Definitions:

Customers Served

The total number of clients or customers that a business or facility has provided services or goods to within a specific period.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels within a business.

Customers Served

The number of individual clients or customers that a business has provided products or services to within a specific timeframe.

Flexible Budget

A budget that dynamically adjusts in correlation with variations in volume or activity levels.