6. Your company must lodge financial reports with ASIC and the reports must include a directors' declaration that includes: I. whether, in the directors' opinion, there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due Il. whether the financial statements and notes comply with accounting standards and give a true and fair view of the financial position and performance of the company and any consolidated entity, and IIL if your company is listed, whether the directors have been given the declarations required by the chief executive officer (CEO) and chief financial officer (CFO) IV. Whether, in the director's opinion, the company is a going concern entity one answer correct two answers correct 7. Wh three answers correct reviewing and disclosing financial information? All answers are corrects 7. What does a director requirement in reviewing and disclosing financial information? l. Rely on external auditor to understand the contents of the financial report IIl While it is advantage for a director to understand accounting standard, such Il. Rely on Audit committee to bear the responsibility of signing off the financial report knowledge is not essential as you can rely on the CFO and audit committee operation IV. Rely on your own judgement whether the financial report reflects the firm's Answe v one answer correct two answers correct three answers correct All answers are corrects standard? 10. Which of the followings definition is/are true in regard to current assets? l. It is expected to be realised or consumed in the entity's normal operating cycle Il. It is held for generating profit for the firm IIL It is expected to be realised within 6 months after the reporting date IV. It is cash only one answer correct two answers correct three answers correct All answers are corrects