Kate could not attend the last shareholders' meeting and thus she granted the authority to vote on her behalf to the managers of the firm.Which one of the following terms is used to describe the method by which Kate's shares were voted?

Question

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The method by which Kate's shares were voted is described as "proxy" since she granted the authority to vote on her behalf to the managers of the firm. A proxy is an agent or substitute authorized to act on behalf of another person, in this case, Kate.

Kate Could Not Attend the Last Shareholders' Meeting and Thus