PREFERRED STOCK Definition

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PREFERRED STOCK, usually, non-voting capital stock that pays dividends at a specified rate and has preference over common stock in the payment of dividends and the liquidation of assets. A firm with a distinct sustainable competitive advantage is one that does not have preferred stock.

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CONTROL RISK is the risk that material error in a balance or transaction class will not be prevented or detected on a timely basis by internal controls.

INVOICE, CONSULAR is an invoice stamped or endorsed by the consulate of the country requiring such.

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