The Corporations Act 2001 requires the annual report to include the financial statements that are specified as:
A) a balance sheet, profit and loss statement, statement of cash flows and note 1 to the statements.
B) those required by the accounting standards.
C) a balance sheet, profit and loss statement, statement of cash flows and a director's report.
D) a balance sheet, profit and loss statement, statement of cash flows, director's report, an audit report and a statement of comprehensive income.

Question

Quizplus · Accepted Answer

The Corporations Act 2001 requires the annual report to include the financial statements that are required by the accounting standards. Therefore, option B is the correct answer. The financial statements required by the accounting standards generally include a balance sheet, profit and loss statement, statement of cash flows, and notes to the financial statements. However, the director's report, audit report, and statement of comprehensive income may also be required depending on the circumstances.

The Corporations Act 2001 Requires the Annual Report to Include