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Which of the following are legal obligations of corporate entities with respect to financial reporting as set out in the Corporations Act 2001? Select all
Which of the following are legal obligations of corporate entities with respect to financial reporting as set out in the Corporations Act 2001? Select all that apply. Select one or more: a. It is considered illegal to keep financial records outside Australia. b. The company is entitled to decide where to keep its financial records. c. A company must keep written financial records that correctly record and explain its transactions and financial position and performance. d. All financial records should always be kept in the English language. Financial records kept in languages other than English are not accepted. e. A director of a company, registered scheme or disclosing entity has a right of access to the financial records at all reasonable times. f. Financial records must be kept for seven (7) years after the transactions are completed. g. Financial records can be kept in electronic form but a hard copy must be made available to a person who is entitled to inspect the records. h. All financial records are required to be kept in the registered company address. A company must keep written financial records that enable true and fair financial statements to be prepared and audited
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