The Cumulative Feature of Preferred Stock

question 18

Multiple Choice

The cumulative feature of preferred stock

• A) limits the amount of cumulative dividends to the par value of the preferred stock.
• B) requires that dividends not paid in any year must be made up in a later year before dividends are distributed to common shareholders.
• C) means that the shareholder can accumulate preferred stock until it is equal to the par value of common stock at which time it can be converted into common stock.
• D) enables a preferred stockholder to accumulate dividends until they equal the par value of the stock and receive the stock in place of the cash dividends.

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Definitions:

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