In Relation to Assessing the Independence of Non-Executive Directors,which of the Following

question 23

Multiple Choice

In relation to assessing the independence of non-executive directors,which of the following is not a requirement in the ASX Corporate Governance Council's independence test?
I is not a substantial shareholder;
II is not a material supplier or customer of the company;
III is free from any interest in any business that could be perceived to materially interfere with the director's ability to act in the best interests of the company;
IV has not previously been employed in an executive capacity by the company.

• A)I and IV;
• B)I,II and III;
• C)II,III and IV;
• D)I,II,III and IV.

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Definitions:

Income Summary

An account used in the closing process that summarizes the revenues and expenses for an accounting period, ultimately reflecting the period's net income or loss.