There Is an Election Being Held to fiLl Two Seats

question 262

Multiple Choice

There is an election being held to fill two seats on the board of directors of a firm in which you hold stock. There are a total of 420 shares outstanding. If the election is conducted under cumulative
Voting and you own 120 shares, how many more shares must you buy to be assured of earning a
Seat on the board?

• A) 0
• B) 20
• C) 21
• D) 91
• E) 141

---

Definitions:

Activity-based Costing

A strategy for attributing overhead and indirect costs to specific products and services, guided by the activities those offerings demand.

Cost of Services

The total expense incurred to provide services, including labor, materials, and overhead costs, applicable in service-oriented businesses.

Process Cost Systems

These are accounting systems used in manufacturing environments where production is continuous, and costs are tracked and accumulated by process or department.

Pharmaceuticals

Products and substances manufactured and used in the diagnosis, treatment, or prevention of diseases and medical conditions.