What Type of Voting Does a Corporation Have If There

question 24

Multiple Choice

What type of voting does a corporation have if there are two directors to elect and Director Jones received 50 votes from a shareholder who owns 100 shares?

• A)majority voting.
• B)cumulative voting.
• C)supermajority voting.
• D)cannot tell voting type from given information.

---

Definitions:

Articles of Incorporation

A document filed with a state government to legally document the creation of a corporation.

Secretary of State

An official in many countries who is in charge of foreign affairs, or in some cases, domestic affairs and state administration.

Filed

Filed refers to the process of submitting a document officially to a court or government agency, making it part of the public record.

Watered Shares

Shares issued in exchange for property that has been overvalued. Also called watered stock. See also discount shares.