Question: Question 1 12 Marks Small proprietary companies do not require to comply with AASB standards . Do you agree with this statement? Justify your answer.

Question 1 12 Marks

  1. Small proprietary companies do not require to comply with AASB standards.

Do you agree with this statement? Justify your answer.

(8 Marks).

  1. Comparability ensures the comparison of the financial statements among different companies.

Do you agree with this statement? If so, how? Briefly justify your answer.

(4 Marks)

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