There Are Three Open Positions on the Board of Directors

question 69

Multiple Choice

There are three open positions on the board of directors of XYZ Enterprises.The company has 264,000 shares of stock outstanding.Each share is entitled to one vote.How many shares of stock must you own to guarantee your personal election to the board of directors if the firm uses cumulative voting?

• A)82,001 shares
• B)75,001 shares
• C)88,001 shares
• D)72,000 shares
• E)66,001 shares

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Definitions:

Cross-functional Team

A group of individuals from different departments or areas within an organization working together to achieve a common goal.

Task Force

A temporary group of people formed to undertake a specific mission or project.

Friendship Groups

Social collectives that provide emotional, social, and practical support, often characterized by shared interests or common goals.

Informal Groups

Groups that form naturally within an organization based on personal relationships or shared interests rather than structured roles.