Cumulative Preferred Stock Has a Right to Be Paid Both

question 196

True/False

Cumulative preferred stock has a right to be paid both current and prior periods' unpaid dividends before any dividend is paid to common shareholders.

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Definitions:

Protect Minors

Measures or laws designed to safeguard children and teenagers from harm and exploitation.

Misrepresents His Age

The act of someone falsifying their age, typically to gain access to rights, products, or services restricted to those of a certain age.

Disaffirm It

The act of rejecting or voiding a legal contract or agreement, especially one entered into by minors or under duress which can be legally disaffirmed.

Duty Of Restitution

The legal obligation to compensate or restore the loss suffered by another party due to unlawful acts or breaches of contract.