Not yet answered Marked out of 3.00 P Flag question What is/are true about disclosing entity? l. Include registered managed investment scheme Il. Half-yearly financial reports is an option II. Audited statement is an option IV. Financial report required to be lodged with ASIC within 4 months of the end of financial year Answer Which of the following(s) is/are not required to lodge financial report? I. Public companies Il. Small proprietary companies controlled by foreign companies which are not port of a large group IIl. Company limited by guarantee with annual revenue of $1million or more IV. Registered schemes Answer Which of the following is/are correct for lodging financial statement to ASIC? . 3 months for all entity Il. 3 months for disclosing entity II. 4 months for all entities that is not a disclosing entity IV. 4 months for all entity Answer E. Which of the following(s) does/do ASIC regulates? Financial markets Service organization Fund management Accountants Answer F. What are the essential element(s) in looking at financial data? Profitability Debt level Borrowing rates Equity level Answer G. What is/are correct in regard to audit? A company (other than a small proprietary company), registered scheme (managed investment scheme) or disclosing entity (a body that holds enhanced disclosure securities) must have its annual financial report audited and obtain an auditor's report. It is an independent opinion provided by an independent external auditor Any bookkeeper/ accountant can provides its opinion to financial statement that is submitted to ASIC External audit is performed because the firm's shareholder has requested an audit statement Answer A. Which of the following(s) is/are true for the content of a financial statement? Statement of comprehensive income Director declaration Notes to the accounts Auditor's report Answer B. What type of entity(ies) should prepare and lodge financial statement to ASIC? Public listed firm Small proprietary companies Entity that is requested by ASI Charities Answer C. Which of the following(s) is/are information that an entity must keep in accordance to Corporation Act 2001? All invoices and purchases receipts Promissory notes Contracts Tax related documents Answer D. Which of the following(s) is/are within ASIC's power ? I maintain, facilitate and improve the performance of the financial system and entities in it and consumers in the financial system information that is given to us available to the public as soon as practicable promote confident and informed participation by investors receive, process and store, efficiently and quickly. make information about companies and other bodies