Which of the following is true about cumulative preference shares?

Commerce WAEC 1995

Which of the following is true about cumulative preference shares?

  • Any unpaid dividend is carried forward checkmark
  • The shareholders can obtain a capital refund
  • They are entitled to further share in profit
  • Any unpaid dividend is forfeited
  • The dividend declared is accumulated in a reserve account

The correct answer is: A

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