Which of these entities is not required,under the Corporations Act,to prepare a full set of financial statements in accordance with the accounting standards?
A)A large proprietary company
B)A public company
C)A disclosing entity
D)A partnership

Question

Quizplus · Accepted Answer

The Corporations Act does not require a partnership to prepare a full set of financial statements in accordance with accounting standards. However, partnerships may be required to prepare financial statements under other laws or agreements with their partners. Large proprietary companies, public companies, and disclosing entities are all required to prepare financial statements in accordance with accounting standards under the Corporations Act.

Which of These Entities Is Not Required,under the Corporations Act,to