A class of stock which entitles the holder before any dividends whatever are paid to the holders
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Question:
A class of stock which entitles the holder before any dividends whatever are paid to the holders of the common stock, to a dividend measured not only by the contracts amount for the current dividend period but also by any deficiency or arrearages in the payment of the dividends accrued in former dividend period is
a. preferred stock as to asset
b. bonus stock
c. cumulative preferred stock
d. participating preferred stock
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