The Companies Act requires which of the following to be included in a Directors' Responsibilities statement?
I.State whether in their opinion the financial statements comply with accounting standards and the Corporations Act.
II.State whether in their opinion the financial statements give a true and fair view of the financial position and financial performance of the entity.
III.State whether or not in their opinion,when the declaration was made,there were reasonable grounds to believe that the company would be able to pay its debts as they become due.
IV.State details of directors' emoluments.
V.State principal activities of the entity.
A)All of the given answers are correct.
B)I, II and III only
C)I, II, III and IV only
D)IV and V only

Question

Quizplus · Accepted Answer

The Companies Act requires directors to include statements regarding compliance with accounting standards and the Corporations Act, the true and fair view of financial statements, and the ability of the company to pay its debts. Details of directors' emoluments and the principal activities of the entity are not required in the Directors' Responsibilities statement. Therefore, only options I, II, and III are required to be included.

The Companies Act Requires Which of the Following to Be