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Which of the following is true of preferred stock? a. Preferred stock is the only class of stock issued by a corporation. b. The payment
Which of the following is true of preferred stock?
a. Preferred stock is the only class of stock issued by a corporation.
b. The payment of preferred stock dividend is not authorized by the corporation's board of directors.
c. Preferred stock is a minimum stockholder contribution maintained to protect creditors.
d. Preferred stock has various preference rights such as a preference to dividends.
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