A proxy is:
A)A legal document that gives a designated agent of a stockholder the power to vote the stock.
B)A contractual commitment by an investor to purchase unissued shares of stock.
C)An amount of assets defined by state law that stockholders must invest and leave invested in a corporation.
D)The right of common stockholders to protect their proportionate interests in a corporation by having the first opportunity to purchase additional shares of common stock issued by the corporation.
E)An arbitrary amount assigned to no-par stock by the corporation's board of directors.

Question

Quizplus · Accepted Answer

A proxy is a legal document that gives a designated agent of a stockholder the power to vote the stock. This allows the stockholder to have a voice in corporate decision-making even if they are unable to attend the meeting in person.

A Proxy Is