If you are to allocate the amount of hard retractable preferred shares in the financial statements,where would they go?
A) Assets
B) Liabilities
C) Ownership equity
D) None of the above

Question

Quizplus · Accepted Answer

Hard retractable preferred shares are a type of liability for the company, as they represent a commitment to pay dividends to the shareholders. Therefore, they should be allocated under the liabilities section of the financial statements.

If You Are to Allocate the Amount of Hard Retractable