Jack owns shares of stock in Boynton Foods and wants to be elected to the company's board of directors.There are 10,000 shares of stock outstanding and each share is granted one vote for each open position on the board.Presently,the company is voting to elect two new directors.Jack can be assured of his election
A)if straight voting applies and he owns at least 25 percent of the shares,plus one additional share.
B)if straight voting applies and he owns at least one-third of the shares,plus one additional share.
C)if cumulative voting applies and he owns 25 percent of the shares,plus one additional share.
D)only if cumulative voting applies and he owns the majority of the shares.
E)if cumulative voting applies and he owns one-third of the shares,plus one additional share.

Question

Quizplus · Accepted Answer

In cumulative voting, shareholders can allocate their votes in any manner they choose. Owning one-third of the shares plus one additional share allows Jack to concentrate his votes on himself, ensuring his election.

Jack Owns Shares of Stock in Boynton Foods and Wants