Michael owns 100 shares of stock in the Zanson Electricals Corporation, but as a stockholder, he does not have the right to vote in stockholders' meetings. In this scenario, Michael is a preferred stockholder.
Answer the following statement true (T) or false (F)
True
In the given scenario, Michael owns preferred stock. Common stockholders normally have the right to vote in stockholders' meetings, while preferred stockholders do not. See 6-4: Corporations: The Advantages and Disadvantages of Being an Artificial Person
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