Match each of the following preferred stock features with its description. Preferred Stock Features _________ 1. Convertible
Question:
Preferred Stock Features
_________ 1. Convertible
_________ 2. Redeemable
_________ 3. Cumulative
Description
a. Prior unpaid dividends receive priority.
b. Shares can be sold at a predetermined price.
c. Shares can be exchanged for common stock.
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Related Book For 
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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