The minimum acceptable standards for accountants, issued by the professional bodies, are known as the code of professional A major advantage of trusts is that they tax payments. The evaluation process of a business plan allows: a. all of the above. b. detection of variances between actual and budgeted results. c. improvement in internal communications. d. more effective use of scarce resources. Under which act are the AASB accounting standards legally enforceable in Australia? a. the AASB accounting standards are legally enforceable in Australia under all of these acts b. Trade Practices Act 1974 c. Corporations Act 2001 d. Income Tax Assessment Act 2007