Final answer:
The instance where shares without voting rights typically cannot be voted is during the Election of directors or trustees. Shareholders with non-voting shares usually do not have a say in this matter, unless specified by the company's charter or law. Option C is correct.
Step-by-step explanation:
In response to the question regarding the instances in which shares with or without voting rights can be voted, the correct answer is C. Election of directors or trustees.
Typically, all shareholders have the right to vote on crucial corporate matters, which include the increase or decrease of capital stock (A), the dissolution of the corporation (B), and the merger or consolidation with other corporations (D).
However, the election of the company's board of directors is a fundamental right specifically tied to shares with voting rights. Shareholders with non-voting shares usually do not participate in the board members' elections unless there are special circumstances outlined in the company's charter or in exceptional cases mandated by law.