Which Statement Is Incorrect Regarding the Corporations Act 2001

question 22

Multiple Choice

Which statement is incorrect regarding the Corporations Act 2001?

• A) the accounting standards are deemed to be part of the Corporations Act
• B) financial reports must comply with the accounting standards
• C) the accounting standards need not be complied with if, in the opinion of the board of directors, this would not result in a true and fair view
• D) if the financial statements and notes prepared in compliance with accounting standards would not give a true and fair view, then additional information necessary to give a true and fair view must be included in the notes to the statements

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