In establishing reporting requirements,the Corporations Act distinguishes between:
A) large and small proprietary companies
B) service and non-service entities
C) legal and non-legal entities
D) reporting and non-reporting entities

Question

Quizplus · Accepted Answer

The Corporations Act distinguishes between reporting requirements for large and small proprietary companies. Large proprietary companies have more stringent reporting requirements, including the need to prepare and lodge audited financial statements, while small proprietary companies may be exempt from certain reporting requirements. Therefore, option A is the correct answer. The other options do not accurately reflect the distinctions made by the Corporations Act.

In Establishing Reporting Requirements,the Corporations Act Distinguishes Between