Page 355 - F3 -FA Integrated Workbook STUDENT 2018-19

Chapter 24

Answers

Chapter 2

Example 1

Preparation of limited company financial statatements

Who is responsible for the preparation of the annual financial statements
of a limited liability company?

A Management

B The finance director

C The board of directors

D The chairman of the board of directors

Solution

C.

The board of directors have a collective responsibility to prepare the annual
financial statements. It is not the sole responsibility of either the finance director
or of the chairman of the board of directors.

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