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V Corp. has 10,000, 6% cumulative preference shares, issued at P 100 each and 100,000...

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Accounting

V Corp. has 10,000, 6% cumulative preference shares, issued at P 100 each and 100,000 issued ordinary shares at December 31, 2019. If the board of directors declares a P 40,000 dividend, the

A. Preference shareholders will receive P 60,000.

B. Preference shareholders will receive the entire P 40,000.

C. Preference shareholders will receive 1/10th of what the ordinary shareholders will receive.

D. Preference shareholders will receive P 20,000 and the ordinary shareholders will receive P 20,000.

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