If you are to allocate the amount of soft 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

Soft retractable preferred shares are a type of equity, which means they represent ownership in the company. Therefore, they should be allocated under the ownership equity section of the financial statements. They do not belong in assets or liabilities as they do not represent debt or property.

If You Are to Allocate the Amount of Soft Retractable