Common stock can be converted to preferred stock at the shareholder's discretion.

Name: Common stock can be converted to preferred stock at the shareholder's discretion.
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Question

Quizplus · Accepted Answer

Common stock cannot be converted to preferred stock at the shareholder's discretion. Conversion typically occurs through a company-initiated event such as a merger or acquisition or through a provision in the company's articles of incorporation.

Common Stock Can Be Converted to Preferred Stock at the Shareholder's