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:

Disclosure Statement

A legal document that outlines the critical information and facts a consumer or investor needs to know before making a decision.

Franchise Agreement

A franchise agreement is a legal, binding contract between a franchisor and franchisee, outlining the terms, rights, and responsibilities of both parties regarding the operation of the franchise.

Operating a Franchise

The act of running a business under the branding and operational model of an established company, typically with an agreement dictating terms and conditions.

Disclosure Statements

Information that franchisors are required to provide to potential franchisees.