Key questions: 1. What are the differences between common and preferred shares of stock 2. Related to declaring a dividend, how do the date of declaration, date of record, and payment date impact the financial statements 3. Why are stock prices influenced more by expectations about the future than by historical events? Does this mean historical events are irrelevante Packet 21 - Pre-Class Notes Key terms. Using your own words, define the following: 1. Par value 2. Stated value 3. Market value 4. Authorized stock 5. Issued stock 6. Treasury stock 7. Outstanding stock 8. Cumulative dividends I 9. Dividends in arrears