Bands’End Ltd has 6 shareholders, each of whom is a director
involved in the day to day operations of the community. Landed Ltd
has only 86 full-time employees each of whom has direct, personal
contact with the directors.
The financial statements of Bands’ End Ltd for the year ended 30
June 2015 show:
Gross assets of $14,500,000 and
Gross revenue of $24,001,000.
Equity 5.5million
Explain, justifying your answer, if Bands’ End Ltd is required
by the Corporations Act 2001 to...