Explanation
The term "pro rata" means "in proportion" or "proportionally." It is a Latin term that is commonly used in finance, accounting, and legal contexts to refer to a proportional allocation or distribution of something.
For example, if an employee is hired in the middle of the year, their vacation time may be calculated pro rata, meaning it will be proportional to the number of months they will work in the year. Similarly, if a company issues new shares of stock, existing shareholders may be given the right to purchase additional shares pro rata, meaning in proportion to their existing ownership percentage.
Therefore, option C, "In proportion," is the correct meaning of "pro rata." Option A, "At the rate of," is not an accurate definition of the term. Option B, "At quoted rate," is also not an accurate definition of the term. Option D, "Beyond all proportions," is the opposite of the meaning of "pro rata" and is not an accurate definition.
