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

Question

Quizplus · Accepted Answer

The Corporations Act 2001 requires financial statements to comply with accounting standards, which include a balance sheet, profit and loss statement, and statement of cash flows, but not necessarily a director's report or audit report.

Under the Corporations Act 2001 a Set of Financial Statements