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Which one of the following accurately describes the features of preferred stock? -Preferred dividends are noncumulative. -Preferred dividends cannot be deferred indefinitely. -Similar to common
Which one of the following accurately describes the features of preferred stock?
-Preferred dividends are noncumulative.
-Preferred dividends cannot be deferred indefinitely.
-Similar to common stock, preferred stock generally carries voting rights.
-A firm can go bankrupt for not paying preferred dividends.
-Preferred dividends must be paid before dividends can be paid to common stockholders.
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