Which of the following is NOT required in order for a corporation to distribute (pay) a regular dividend? Select one:

a. Sufficient cash

b. Sufficient net income

c. A delcaration by the Board of Directors

d. Sufficient retained earnings

Which will always be the greatest number of shares for a corporation? Select one:

a. Shares held in the treasury

b. Shares issued

c. Shares authorized

d. Shares outstanding

In most states, par value of issued shares represents: Select one:

a. legal capital

b. minority capital.

c. no par capital

d. corporate capital

A feature of preferred stock requiring that any missed dividends be paid before dividends can be paid on common stock is: Select one:

a. participating feature

b. convertible feature

c. preemptive right

d. cumulative feature