Identify the Statement Which Correctly Describes Preferred Stocks

Identify the statement which correctly describes preferred stocks.

A) Preferred stock can never be converted into common stock.
B) The right to vote is usually granted only in the event that dividends due are fully repaid.
C) Redemption of preferred stocks is allowed irrespective of whether the cost would make the corporation insolvent.
D) A corporation can buy back preferred stocks from holders even if they do not wish to sell them.