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What is the feature of the preference shares

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Question - On December 31, 2020, the shareholders' equity of BSA Corporation showed 10,000 authorized shares P1,000 par value 6% Preference Share, 1,000 shares issued and outstanding; Share Premium-Preference P300,000; 500,000 shares P5 par value Ordinary shares authorized, 200,000 shares issued, 190,000 shares outstanding; Share Premium-Ordinary P400,000, Retained Earnings P500,000 and Treasury Stock P100,000. No dividends were declared in 2018 and 2019. The board declared P250,000 cash dividend What is the feature of the preference shares where the percentage of dividend received per ordinary share is the same percentage of dividend received per preference share?

A) Cumulative and Nonparticipating

B) Noncumulative and Participating

C) Cumulative and Participating

D) Noncumulative and Nonparticipating

Reference no: EM133113479

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