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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