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Essential Characteristic
A fundamental or inherent property that defines an entity, distinguishing it from others.
Liability
A company's financial debts or obligations that arise during the course of business operations.
Cumulative Preferred Stock
A type of preferred stock that entitles its holders to dividends that accrue if not paid in any year, payable before any dividends to common stockholders.
Dividends Payable
Liabilities on a company’s balance sheet representing amounts owed to shareholders as part of the profit-sharing from dividends declared.
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