Which of the following statements is incorrect? Group of answer choices

Common stock represents the interest payments and principal claim in a corporation.

Most of the answers are correct except one.

Owners of common stock are not guaranteed any dividend payments and have the lowest-priority claim on the firm's assets in the event of bankruptcy.

NASDAQ is an OTC market because it does not have a physical location where trading takes place.

If preferred stock dividends are not paid, the lack of payment is not legally viewed as a default.