The Decision in ASIC V Gallagher (1993)11 ACLC 286 Was

question 25

Multiple Choice

The decision in ASIC v Gallagher (1993) 11 ACLC 286 was that non-executive directors of a company:

• A)may rely on other directors providing them with important information.
• B)have a duty to inform themselves so that they can make independent judgments.
• C)must investigate all matters requiring their approval when they have been put upon enquiry.
• D)all of the above.

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Definitions:

Null Hypothesis

A hypothesis that suggests there is no significant difference or effect, used as a starting point in hypothesis testing.

P-value

The probability of obtaining test results at least as extreme as the ones observed during the test, assuming that the null hypothesis is true.

Null Hypothesis

A statistical hypothesis which proposes no significant difference or effect, used as a default assumption until evidence suggests otherwise.

Alpha Level

The probability threshold that determines the critical value for rejecting the null hypothesis in hypothesis testing, commonly set at 0.05 or 5%.