OmegaByte Corp

question 65

Multiple Choice

OmegaByte Corp.has 1,000 shares of stock outstanding that are permitted to vote for directors.If OmegaByte Corp.permits cumulative voting,a minority shareholder would need to vote how many shares to elect one of three directors?

• A) 251
• B) 501
• C) 751
• D) 334

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Definitions:

Fixed Costs

Fixed costs in a business that do not change with the amount of goods produced or sold.

Variable Costs

Costs that change in proportion to the level of production or business activity.

Saltwater Taffy

A variety of soft taffy originally produced and marketed in coastal areas, known for its unique texture and array of flavors.

Marginal Cost

The additional cost incurred from producing one more unit of a good or service.