Within a company's outstanding equity, there are often different classes of shares, each with its own

characteristics. Frequently, larger companies will issue both common and preferred shares. Which of the

following statements is false of preferred shares?

Preferred shared are typically non$-$voting shares

From an investor perspective, preferred shares are a great way of allocating more risk for more potential

return on equities than common shares

Preferred shareholders may also be paid dividends before common shareholders, especially in times of

market turbulence,

Preferred shares are usually senior to common shares in the event of a liquidation