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State the following statement is True or False.
Q. Annual Report is prepared by members.
  • a)
    True
  • b)
    False
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
State the following statement is True or False.Q. Annual Report is pre...
This statement is False because of the following reasons : 
(i) The Board of Director is the authority who convene this meeting. 
(ii) This authority is delegated to the secretary in Board Meeting.
(iii) The secretary has to ensure the preparation of annual report and annual accounts. 
(iv) These reports and financial statement need to be approved by the board and the auditors.
(v) The secretary presents the Annual Accounts to the directors for approval and obtains signature. 
(vi) He also sends Annual Accounts to the auditor for audit.
(vii) The secretary then drafts the Directors' Report. This report presents the performance of the company during the year.
Hence, it is the secretary and not the members who prepare annual report.
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State the following statement is True or False.Q. Annual Report is pre...


False

Annual Report Preparation:
- The preparation of an Annual Report is not done by members of an organization.
- The Annual Report is typically prepared by the management team or specific individuals within the organization who are responsible for compiling and presenting the financial and operational information of the company.
- It is a formal report that provides shareholders and other interested parties with information about the company's performance and financial position over the past year.
- The Annual Report includes financial statements, management discussion and analysis, auditor's report, and other relevant information that gives stakeholders a comprehensive understanding of the company's operations.

In conclusion, the statement that the Annual Report is prepared by members is False. It is usually prepared by the management or designated individuals within the organization.
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State the following statement is True or False.Q. Annual Report is prepared by members.a)Trueb)FalseCorrect answer is option 'B'. Can you explain this answer?
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