ABC Corps annual meeting of shareholders will be held soon. At the annual meeting, each...
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Accounting
ABC Corps annual meeting of shareholders will be held soon. At the annual meeting, each of the five seats on the corporations board of directors will be filled. One of the minority shareholders has requested that the corporation use cumulative voting to determine who will be elected to the board of directors. In this circumstance:
Question 15 options:
A The corporation will use cumulative voting to elect directors because a shareholder, prior to the meeting, requested that the corporation use cumulative voting to elect directors
B The corporation will use cumulative voting to elect directors but only so long as the shareholder is able to obtain consent to the use of cumulative voting from shareholders who hold 25% of the outstanding stock of the corporation
C The corporation will use cumulative voting to elect directors but only so long as the shareholder is able to obtain consent to the use of cumulative voting from shareholders who hold 50% of the outstanding stock of the corporation
D The corporation will use cumulative voting to elect directors but only so long as the articles of incorporation provide for the use of cumulative voting to elect directors
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