Which one of the following statements about common stock is correct? a. each share of stock has a specified maturity date. b. common stock gives stockholders first title to a share of the company's earnings, prior to other corporate obligations. c. common stock typically provides higher levels of current income than do similar grade corporate bonds. d. each share of common stock of a given class entitles the holder to an equal ownership position and an equal vote in the corporation.

A. Each share of stock has a specified maturity date.

Explanation:

Common stock does not have a specified maturity date. Instead, using the going concern concept,  as long as the company exists, a common stock holder has a stake in the company, so A is incorrect.

A Company 1st pays other corporate obligations such as interest to bond holders, followed by preference share dividends before paying dividends to common stockholders, so B is incorrect.

Common stock dividends are more volatile than bonds, and therefore likely to have fluctuating dividends unlike bonds which have generally lower volatility and produce consistent reliable income. Most of the return on common stock comes from capital gains, and not current income unlike bonds, so C is incorrect.

D is correct, as common stockholders have voting rights since they have a stake in the company.