A Company May Be Exempted from the Requirements of S

Multiple Choice

A company may be exempted from the requirements of s 296 of The Corporations Act if:

A) It is a small proprietary company within the definition of the Act.
B) A special meeting of 75 per cent of the shareholders convened under s 293 agrees to the preparation of financial reports that do not comply with those accounting standards.
C) The report is prepared in response to a shareholder direction under s 293 and the direction specifies that the report does not have to comply with those accounting standards.
D) It is a small proprietary company within the definition of the Act and the report is prepared in response to a shareholder direction under s 293 and the direction specifies that the report does not have to comply with those accounting standards.
E) None of the given answers.