1: Assume that Acme, Inc. has 4,000,000 shares outstanding, 7 directors, and uses cumulative voting for directors. How many shares must you own to be assured of electing yourself as a director?

Group of answer choices

2,000,001

500,000

571,429

571,430

500,001

2,000,000

2:

Lauren and Jack have an equal general partnership. This year, after expenses, the partnership had a profit of $100,000, but only distributed $25,000 to each of the two partners, retaining $50,000 to grow the business. Lauren and Jack will each be liable for income taxes on:

Group of answer choices

$100,000.

$25,000.

whatever they receive from the partnership.

$50,000.

None of these. The partnership itself will pay taxes on the businesss profit.