Which one of the following is TRUE?

Select one:

a.

Preference shareholders usually have the voting right.

b.

The previously unpaid dividends for non-cumulative preference shares can be skipped.

c.

For tax, legal and accounting purposes, preference shares are treated as debt.

d.

Like debtholders, preference shareholders can force a firm into bankruptcy.

e.

Preference shareholders stand behind ordinary shareholders in line for dividends.