Which of the statements below is FALSE?

• Like a bond, common stock entitles the owner to some of the cash flow of a company.
• For common stock, there is no maturity date and the promised cash flow is not stated on the asset, but is determined at a later date by the board of directors.
• Bond ownership gives the right to participate in the management of the company.
• An equity claim is a claim to all the assets and cash flows of a company once debt claimants have been paid.