Question

The Corporations Act allows a company the right to prepare and send a concise report to...

The Corporations Act allows a company the right to prepare and send a concise report to members which consists of which of the following?

I.       A concise financial report drawn up in accordance with accounting standards.

II.      A directors’ report for the year.

III.    An auditor’s statement.

IV.    A statement that the report is a concise report and that the full financial report and auditor’s report is available if requested.

Select one:

a. I, II, III and IV

b. I, II and III only

c. II, III and IV only

d. III and IV only

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Homework Answers

Answer #1

Answer is a) I, II, III and IV

A concise report for a financial year consists of following:

· A concise financial report for the year drawn up in accordance with accounting standards

· The director’s report for the year

· A statement by auditor that financial report has been audited and whether in auditor’s opinion, the concise financial report complies with the accounting standards

· A statement that the report is a concise report and full financial report and auditor’s report would be sent to member’s free of charge if members request for the same.

So all given four points are answer. So answer is a)

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