The Formula for Determining the Minimum Number of Shares Required

question 37

Multiple Choice

The formula for determining the minimum number of shares required to elect a desired number of directors under cumulative voting is ________ where X = number of shares needed to elect the desired number of directors,S = total number of shares voting at the shareholders' meeting,R = number of director representatives desired,and D = total number of directors to be elected at the meeting.

• A)X = (S × R)/(D + 1)+ 1
• B)X = (S × R)/(D - 1)
• C)X - 1 = (S × R)/(D - 1)
• D)X = (S × R)/(D + 1)

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Definitions:

Variable Utilities

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Human Behavior

The study of how individuals act within societies, influenced by factors such as emotions, culture, and environment.

Budgetary Slack

The practice of underestimating revenues or overestimating costs when preparing a budget to create a buffer.

Budget Process

The procedure by which an organization or individual creates a plan to allocate resources and monitor financial activity over a specified period.