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.

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Definitions:

Economic Options

The range of possible choices available to individuals, businesses, and governments in the allocation of resources to meet needs and desires.

Deep Integration

The extent of integration in economic relations and policies beyond removal of tariffs to include harmonization of legal and regulatory systems.

Shallow Integration

Refers to the removal of tariffs and border barriers to facilitate trade between countries, without significantly harmonizing domestic laws and policies.

Third Sector

Refers to the part of an economy or society that is composed of non-governmental and non-profit organizations or associations, including charities, volunteer services, and non-profit organizations.