(I)Preferred Stockholders Hold a Claim on Assets That Has Priority

Multiple Choice

(I) Preferred stockholders hold a claim on assets that has priority over the claims of common stockholders,but after that of bondholders.
(II) Firms issue preferred stock in far greater amounts than common stock.

A) (I) is true, (II) false.
B) (I) is false, (II) true.
C) Both are true.
D) Both are false.