Solved: Adopting cumulative voting, Accounting Basics

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Adopting cumulative voting

Problem:

Anita Job owns 507 shares in the Rapid Employment Corp. (a firm that provides temporary work). There are 11 directors to be elected. Twenty-one thousand shares are outstanding. The firm has adopted cumulative voting.

a. How many total votes can be cast?

b. How many votes does Anita Job control?

c. What percentage of the total votes does she control?

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Accounting Basics: Adopting cumulative voting

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