Which of the following statements is incorrect?
A) Financial records must be retained for 7 years.
B) Financial records may be kept in any language.
C) A company can decide where to keep its financial records.
D) Financial records must be retained for 10 years.
Correct Answer:
Verified
Q15: In the preparation of financial statements, it
Q16: The statement of profit or loss and
Q17: If a company is a small proprietary
Q18: Half yearly reports are required to be
Q19: According to the Corporations Act, a company
Q21: A company's workforce went on strike for
Q22: Errors can occur for which of the
Q23: A complete set of financial statements will
Q24: General purpose financial statements are prepared for
Q25: Comparative information in respect of all previous
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents