All of the following statements about preferred stock are true except A)preferred stock will have a paid-in capital account that is separate from other stock. B)preferred stock is presented first on the stockholder's equity section. C)preferred stock can be either par value or no-par value. D)there can be only one class of preferred stock.

Question

Quizplus · Accepted Answer

There can be multiple classes of preferred stock, each with different rights and preferences.

All of the Following Statements About Preferred Stock Are True