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Which statement is incorrect regarding the corporations act

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Reference no: EM132690579

Problem 1: Which statement is incorrect regarding the Corporations Act 2001?

Select one:

a. the accounting standards are deemed to be part of the Corporations Act

b. financial reports must comply with the accounting standards

c. the accounting standards need not be complied with if, in the opinion of the board of directors, this would not result in a true and fair view

Problem 2: The fair value definition relates to which elements of financial statements?

Select one:

a. Dividends and Taxes

b. Equity and Liabilities

c. Revenues and expenses

Reference no: EM132690579

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