All of the following are characteristics of common stock EXCEPT
A. voting rights which permit selection of the firm’s directors.
B. claims on income and assets which are subordinate to the creditors of the firm.
C. fully tax-deductible dividends.
D. no fixed payment obligation.
Answer:C
All of the following are characteristics of common stock EXCEPT
A. voting rights which permit selection of the firm’s directors. B. claims on income and assets which are subordinate to the creditors of the firm. C. fully tax-deductible dividends. D. no fixed payment obligation.