A Former Loophole (Now Closed)that Existed Under the Former S

Multiple Choice

A former loophole (now closed) that existed under the former s.9 of the Corporations Law:

A) required the preparation of one set of consolidated accounts for the group.
B) required the preparation of separate accounts for each body corporate in the group.
C) gave the choice of using full consolidation, proportional consolidation or the equity method of accounting.
D) gave the choice of one set, or two or more sets, of consolidated accounts; or separate accounts for each body corporate; or a combination.
E) meant that no group accounting was required whatsoever.