Under the Corporations Act 2001 a set of financial statements to be included in the annual financial report are:
A) a balance sheet, profit and loss statement and statement of cash flows.
B) a balance sheet, profit and loss statement, statement of cash flows and a director's report.
C) a balance sheet, profit and loss statement, statement of cash flows, director's report and an audit report.
D) those specified in the accounting standards.

Question

Quizplus · Accepted Answer

The Corporations Act 2001 requires financial statements to be prepared in accordance with accounting standards, which specify the required components.

Under the Corporations Act 2001 a Set of Financial Statements