Circle the correct answer to each situation. 
Definitions:
Cash Dividend
Cash payments made by corporations to their owners from profits earned.
Authorized Shares
The highest quantity of shares that a company can legally distribute, as stated in its charter.
Noncumulative
Pertaining to preferred stock dividends, where dividends not paid in one period do not accumulate and are not required to be paid in future periods.
Preferred Stock
A class of ownership in a corporation with a higher claim on assets and earnings than common stock, usually with fixed dividends.
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