Which One of the Following Statements Concerning Preferred Stock Is

Which one of the following statements concerning preferred stock is correct?

A) Unpaid preferred dividends of all types preferred stock are a liability of the firm.
B) Preferred dividends must be paid quarterly provided the firm has net income that exceeds the amount of the quarterly dividend.
C) Preferred dividends must be paid timely each quarter or the unpaid dividends start accruing interest.
D) All unpaid dividends on preferred stock, regardless of the type of preferred, must be paid before any income can be distributed to common shareholders.
E) Preferred shareholders may be granted voting rights and seats on the board if preferred dividend payments remain unpaid.