Axon Inc. has 5%, $100 par, noncumulative preferred stock. During the year, Axon declared and...
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Accounting
- Axon Inc. has 5%, $100 par, noncumulative preferred stock. During the year, Axon declared and paid a preferred dividend that exceeded $5 per share? The preferred stock must be
- redeemable.
- callable.
- nonvoting.
- convertible.
- participating(answer)
- redeemable.
- callable.
- nonvoting.
- convertible.
- participating(answer)
Can someone help me with this question please? I know the answer key says the answer "e)participating" but I want an explanation of why? and what exactly is "participating" thanks in advance!
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