The Requirement That a Director Act in Good Faith Means

question 47

Multiple Choice

The requirement that a director act in good faith means that a director must act:

• A)honestly.
• B)reasonably.
• C)competently.
• D)correctly.

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Definitions:

Compounded Monthly

The calculation of interest using the principal sum along with its accrued interest, with this process happening every month.

Investment

Disbursing funds or other assets with the aim of earning returns or profits.

Average Annual Rate

A financial term indicating the average amount of interest earned or paid per year over the life of an investment or loan.

Enrolment

The process of registering or entering into a program, course, or institution.