The Inkilwas Corporation has 30,000 shares outstanding.A shareholders' meeting is duly called to amend the company's articles of incorporation,and 17,501 shares are represented at the meeting.If an amendment to the articles of incorporation is put to vote at this meeting,which of the following statements is true in terms of passage of the amendment?

Question

Quizplus · Accepted Answer

In order for an amendment to pass, it must be approved by at least 50% of the shares that are represented at the meeting. With 17,501 shares represented, the minimum number of shares needed to approve the amendment is 8,751 (50% of 17,501). Therefore, D is the correct choice. A is incorrect because only the shares represented at the meeting need to vote, not all outstanding shares. B and C are incorrect because they do not meet the requirement of 50% of shares represented at the meeting.

The Inkilwas Corporation Has 30,000 Shares Outstanding