A proxy is:
A)A document that delegates a stockholder's voting rights to an agent.
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 document that authorizes one person to vote on behalf of another person, typically a stockholder who is unable to attend a shareholders' meeting. The proxy holder is authorized to exercise the shareholder's voting rights in accordance with the shareholder's instructions.

A Proxy Is