What is the general voting rule for corporate actions by shareholders?

• A. Abstentions count as votes.
• B. Majority of votes cast at the meeting.
• C. Plurality of votes cast.
• D. Unanimous consent of all voting shares.

Answer: (B)

In shareholder voting for corporate actions, the action is approved by a majority of the votes actually cast at the meeting. Abstentions don’t count as votes cast, so they don’t help reach a majority. The key is the tally of for versus against among those who vote; the for votes must exceed the against votes (assuming there’s a quorum). That’s why this option is correct: it reflects the common rule that decisions are made by a majority of votes cast, not by a majority of outstanding shares or by unanimity. The other ideas don’t fit the usual rule: abstentions aren’t counted as votes, a plurality isn’t enough because you need a true majority, and unanimous consent is not the general standard—it's required only in specific situations or through a written consent process.