ieko holds 50 out of 180 shares of Natural Gas, Inc. Natural Gas uses cumulative voting to elect directors. At the annual shareholder meeting, the shareholders must vote for 5 new directors.  This means that    a. Mieko has a total of 180 votes which has may cast all on one candidate or split them among several nominees.   b. Mieko has a total of 250 votes which he may cast all on one candidate or split them among several nominees.   c. Meiko has a total of 50 votes which he may cast all on one candidate or split them among several nominees.   d. Mieko has a total

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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ieko holds 50 out of 180 shares of Natural Gas, Inc. Natural Gas uses cumulative voting to elect directors. At the annual shareholder meeting, the shareholders must vote for 5 new directors.  This means that 
  a.

Mieko has a total of 180 votes which has may cast all on one candidate or split them among several nominees.

  b.

Mieko has a total of 250 votes which he may cast all on one candidate or split them among several nominees.

  c.

Meiko has a total of 50 votes which he may cast all on one candidate or split them among several nominees.

  d.

Mieko has a total of 200 votes which he may cast all on one candidate or split them among several nominees.

 

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