The Formula for Determining the Minimum Number of Shares Required

question 43

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

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