Which one of the following generally pays a fixed dividend,receives first priority in dividend payment,and maintains the right to a dividend payment,even if that payment is deferred?

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Cumulative preference shares generally pay a fixed dividend, have the first priority in dividend payment, and maintain the right to a dividend payment even if that payment is deferred. Non-cumulative preference shares may not receive a payment if the company does not have sufficient profits, while ordinary shares do not have a fixed dividend and are not prioritized in dividend payment. Promissory notes and corporate bonds are debt instruments and do not share the characteristics described in the question.

Which One of the Following Generally Pays a Fixed Dividend,receives