Fundamental Accounting Principles Study Set 5
Quiz 13: Accounting for Corporations
A Cumulative Preference Share Carries the Right to Be Paid
A cumulative preference share carries the right to be paid both current and all prior periods' unpaid dividends before any dividends are paid to ordinary shareholders.
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Retained earnings generally consist of a company's cumulative net income less any net losses and dividends declared since its inception.
Retained earnings are not part of the shareholders' claims on the company's net assets.
The term revenue reverse is sometimes used for retained earnings.
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