(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.
(II) Bondholders hold a claim on assets that has priority over the claims of preferred stockholders.

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