There are 100,000 shares of outstanding stock outstanding for a corporation.A shareholders' meeting is called to amend the articles of incorporation.At the meeting,50,001 shares attend the meeting to vote on the proposed amendment.Is there a quorum present? If 25,001 vote to amend the articles,does the amendment pass?

Question

Quizplus · Accepted Answer

A quorum is the minimum number of voting shares that must be present at a shareholders' meeting in order to conduct business. In this case, there are 50,001 shares present, which is more than half of the outstanding stock, so a quorum is present. Since the amendment only requires a simple majority vote to pass, 25,001 votes will be sufficient to pass the amendment. Therefore, choice A is correct.

There Are 100,000 Shares of Outstanding Stock Outstanding for a Corporation.A