Series 10 Exam Question 30: Answer and Explanation
Question: 30
Corporations may do all of the following, EXCEPT:
- A. Issue preferred stock only.
- B. Issue nonvoting common stock.
- C. Sell stock out of the treasury.
- D. Repurchase its own shares.
Correct Answer: A
Explanation:
A corporation must issue common stock before it issues any preferred stock.
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