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Match the Definitions with the Terms Below

Question 164

Matching

Match the definitions with the terms below.

Premises:
Shares that have been issued, repurchased, and are held by the corporation.
Authorized but unissued shares.
Shares that are limited to a specified dividend rate per year.
The basic issue of shares; the residual equity.
Shares on which dividends in arrears must be paid before current dividends can be paid.
Shares with specified differences from the basic shares.
Responses:
Common shares
Preferred shares
Preferred shares, noncumulative
Preferred shares, cumulative
None of the above

Correct Answer:

Shares that have been issued, repurchased, and are held by the corporation.
Authorized but unissued shares.
Shares that are limited to a specified dividend rate per year.
The basic issue of shares; the residual equity.
Shares on which dividends in arrears must be paid before current dividends can be paid.
Shares with specified differences from the basic shares.
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