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Source Directors and Officers Complete Wisconsin Bar Exam Topic Index List Matched to this deck.

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A director approved a financing plan after receiving a report from the chief financial officer and outside accountants. Before the vote, the director also received a credible warning that one major receivable in the report was uncollectible.
Which statement best describes the director's ability to rely on the report?

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A director may rely on a committee report only if every shareholder approved the committee. A director may rely in good faith on officers, employees, counsel, accountants, experts, or committees if the director believes them reliable and competent and lacks knowledge making reliance unwarranted. A director may rely only on shareholders, never on officers or outside professionals. A director may rely blindly on any officer statement even after learning facts that make the statement doubtful.

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