Which one of the following types of securities has no priority in a bankruptcy proceeding?

Question

Quizplus · Accepted Answer

Ordinary shares, also known as common shares, do not have any priority in a bankruptcy proceeding. They are the last to be paid off after all other creditors, including holders of senior debt, straight bonds, preferred stock, and convertible bonds, have been paid. Therefore, ordinary shares carry the highest risk but also potentially the highest reward.

Which One of the Following Types of Securities Has No