Preferred stock is called preferred because it usually has two preferences. These preferences relate to:

Multiple Choice

Dividends and voting rights.

$$ Par and dividends.

$$ The preemptive right and voting rights.

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$17$ of $45$

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Durney Company recorded a right$-$of$-$use asset of $$1,150,000$ in a ten$-$year finance lease. The interest rate charged by the was $10\%.$ The balance in the right$-$of$-$use asset after two years will be:

Multiple Choice

$$920,000.$