Small Pty Ltd is a small proprietary company.When would Small Pty Ltd have to prepare an annual financial report?
A)If requested by one of its shareholders to do so
B)If requested by the ICAA or CPA Australia to do so
C)If requested by the AASB to do so
D)If requested by ASIC to do so

Question

Quizplus · Accepted Answer

According to the Corporations Act 2001, all proprietary companies must prepare an annual financial report if requested by ASIC to do so.

Small Pty Ltd Is a Small Proprietary Company