menu
Sign up

Given That There Are 6,000,000 Shares Outstanding in a Corporation

Question 44
Multiple Choice

Given that there are 6,000,000 shares outstanding in a corporation, how many additional shares will be required for a minority group of shareholders to elect 4 of the 14 members on the board of directors? (Assume cumulative voting required. Assume the group already owns 400,000 shares.) A) 1,600,001 B) 1,000,001 C) 1,714,286 D) 1,200,001

Related questions
Q 45
A stock sells for $50 rights-on, the subscription price is $40. Nine rights are required to purchase one share. The value of a right is: A) $1.00. B) $10.00. C) $1.11. D) $5.00.
Q 46
Nine rights are necessary to purchase one share of stock $99. A right sells for a $7.70. The ex-rights value of the stock is: A) $99.00. B) $168.30. C) $106.70. D) $69.30.
Q 47
Which of the following statements is true with respect to cumulative voting? A) Cumulative voting permits one votes for a single director. B) Cumulative voting gives minority shareholders less chance of being represented on the board of directors. C) If 6 directors are to be elected and you own 100 shares, you may vote all 600 votes for one director and none for the others. D) Cumulative voting allows the voter to add one vote for every share owned.
logo
© 2020-2021 Cozyplus FZ LLC. All rights reserved