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\begin{tabular}{l} Question 5: Introduction \& Conceptual framework \\ \hline ABC Accounting Services Pty Ltd provides financial services in Perth. It has 10 \end{tabular} ABC Accounting Services Pty Ltd provides financial services in Perth. It has 10 shareholders and 99 full time employees. The company balance sheet is shown below. shareholders and 99 full time employees. The company balanc Its revenue for the year ended 30 June 2021 was $50 million. Its revenue for the year (i) Is ABC Accounting Services Pty Ltd a disclosing entity? Explain why or why not. (3 marks) Use the table below for your answer to question 5 part (i). Expand the table as needed. (ii) Can ABC Accounting Services Pty Ltd produce GPFS (General Purpose Financial Statements)? Explain why or why not. (3 marks) Use the table below for your answer to question 5 part (ii). Expand the table as needed. (i) Does ABC Accounting Services Pty Ltd need to be audited? Explain why or why not. (5 marks) Use the table below for your answer to question 5 part (iii). Expand the table as needed. (iii) Briefly explain why a private company may prefer to be classified as small? (4 marks) Use the table below for your answer to question 5 part (iv). Expand the table as needed. \begin{tabular}{l} Question 5: Introduction \& Conceptual framework \\ \hline ABC Accounting Services Pty Ltd provides financial services in Perth. It has 10 \end{tabular} ABC Accounting Services Pty Ltd provides financial services in Perth. It has 10 shareholders and 99 full time employees. The company balance sheet is shown below. shareholders and 99 full time employees. The company balanc Its revenue for the year ended 30 June 2021 was $50 million. Its revenue for the year (i) Is ABC Accounting Services Pty Ltd a disclosing entity? Explain why or why not. (3 marks) Use the table below for your answer to question 5 part (i). Expand the table as needed. (ii) Can ABC Accounting Services Pty Ltd produce GPFS (General Purpose Financial Statements)? Explain why or why not. (3 marks) Use the table below for your answer to question 5 part (ii). Expand the table as needed. (i) Does ABC Accounting Services Pty Ltd need to be audited? Explain why or why not. (5 marks) Use the table below for your answer to question 5 part (iii). Expand the table as needed. (iii) Briefly explain why a private company may prefer to be classified as small? (4 marks) Use the table below for your answer to question 5 part (iv). Expand the table as needed