[dba-SQLServer] ANSI null compliance

Looking at the DATABASEPROPERTYEX function's ISANSINULLDEFAULT property, I
am assuming the following:
 
1 (True) -- the database's null default meets ANSI compliance
0 (False) -- the database's null default does not meet ANSI compliance
 
Neither of which really tells me what the ANSI compliance is. Since Pubs
property is 0, and Pubs does not allow nulls by default, I'm going out on a
limb here and deduce that the SQL-92 ANSI null default is to allow nulls. Is
this correct? 
 
Susan H.