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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MEMOS written records supporting journal entries. Credit memos support credits, while debit memos support debit entries. See Memo Entry.

BY-PRODUCTS are incidental products resulting from the processing of another product.

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