Section 297 of the Corporations Act states that financial statements must provide a true and fair...

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Section 297 of the Corporations Act states that financial statements must provide a true and fair view of an entity's financial position and performance. However, when compliance with the accounting standards results in financial statements which would not produce a true and fair view, the Corporations Act requires the entity to: O a still comply with the accounting standards and provide additional information in the notes to the financial statements to give a true and fair view Ob request an exemption from the AASB Oc not comply with the accounting standards and write a letter to the shareholders explaining the non- compliance O d. not comply with the accounting standards Section 297 of the Corporations Act states that financial statements must provide a true and fair view of an entity's financial position and performance. However, when compliance with the accounting standards results in financial statements which would not produce a true and fair view, the Corporations Act requires the entity to: O a still comply with the accounting standards and provide additional information in the notes to the financial statements to give a true and fair view Ob request an exemption from the AASB Oc not comply with the accounting standards and write a letter to the shareholders explaining the non- compliance O d. not comply with the accounting standards

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