You want to be on the board of directors of Wisely Foods.Since you are the only shareholder that will vote for you,you will need to own more than half of the outstanding shares of stock if you are to be elected to the board.What is the type of voting called that requires this level of stock ownership to be successfully elected under these conditions?
A)democratic
B)cumulative
C)straight
D)deferred
E)proxy

Question

Quizplus · Accepted Answer

Straight voting, also known as statutory voting, is the voting system where each shareholder gets one vote per share for each position on the board of directors. In this system, to ensure election to the board when you are the only one voting for yourself, you would need to own more than half of the outstanding shares. This is because, in straight voting, having a majority allows you to win a position outright for each seat being voted on.

You Want to Be on the Board of Directors of Wisely