Under the Companies Act 2006, UK limited companies must prepare financial statements in accordance w

date：2026-04-13 15:32:11 author：admin browse： time View comments Add Collection

Under the Companies Act 2006, UK limited companies must prepare financial statements in accordance with

Under the Companies Act 2006, UK limited companies must prepare financial statements in accordance with:

A. Cash basis only

B. UK GAAP or IFRS

C. HMRC tax rules only

D. Management accounts only

Answer: B

Explanation: UK limited companies must prepare statutory financial statements following either UK GAAP (FRS 102) or IFRS, as required by the Companies Act 2006.