Which of the following securities have the highest priority with regard to earnings and assets of a firm?

Question

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Corporate bonds typically have the highest priority with regard to earnings and assets of a firm. This is because bondholders are creditors of the company and have a legal claim on the company's assets and earnings. In the event of bankruptcy or liquidation, bondholders are paid before preferred or common stockholders. Preferred stockholders have a higher priority than common stockholders, but they are still considered equity holders and do not have the same legal claim on a company's assets and earnings as bondholders. ADRs and foreign stocks are not relevant in this context as they are not issued by the company itself.

Which of the Following Securities Have the Highest Priority with Regard