Preferred stock comes in many varieties. preferred stock includes a requirement that past dividends not paid must be paid in future years before any common stock dividends may be paid. preferred stock includes the ability to collect dividends with the common stock owners after all preferred dividends have been paid. preferred stock may be turned in for common stock under certain conditions. preferred stock, also known as callable preferred stock, comes with the risk that the issuing company may the shares under certain conditions.

fill in the blanks with words that would best complete the passage.

cumulative

repurchase

transferable

resell

common

sellable

participating

redeemable

convertible