A Former Loophole (Now Closed)that Existed Under the Former S

question 17

Multiple Choice

A former loophole (now closed) that existed under the former s.9 of The Corporations Law:

• A) required the preparation of one set of consolidated accounts for the group.
• B) required the preparation of separate accounts for each body corporate in the group.
• C) gave the choice of using full consolidation, proportional consolidation or the equity method of accounting.
• D) gave the choice of one set, or two or more sets, of consolidated accounts; or separate accounts for each body corporate; or a combination.

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Definitions:

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone in the group by having members write down their ideas and then collectively discussing and ranking them.

Delphi Technique

A method used to gather data and achieve consensus among experts through multiple rounds of questioning and feedback.

Rational Decision-Making Technique

A systematic approach to make decisions that are logical and based on available information, without letting emotions interfere.

Punctuated Equilibrium Model

A theory in evolutionary biology that posits that species experience long periods of stability interrupted by brief phases of significant change.