If You Own Convertible Preferred Stock,what Right Does the Convertibility

Multiple Choice

If you own convertible preferred stock,what right does the convertibility feature give you?

A) You can convert the stock into cash whenever you want
B) You can convert the stock into the firm's common shares
C) You can convert the stock into cash but only at pre-specified times
D) You have the right to receive dividends in arrears before common stock gets a dividend