A(n)________ Is an Example of Tangible Property

question 45

Multiple Choice

A(n) ________ is an example of tangible property.

• A)promissory note
• B)iPhone
• C)share of corporate stock
• D)account receivable

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Definitions:

Cumulative Preferred Stock

A type of preferred stock where dividends accumulate if not paid in a given period, and must be paid out before common shareholders can receive dividends.

Noncumulative Preferred Stock

A type of preferred stock where dividends are not accumulated if they are not declared.

Par Value

The face value of a bond or stock as stated by the issuer, which does not necessarily reflect its market value.