Common stockholders have all of the following rights and privileges EXCEPT:
I. Voting on the composition of the board of directors.
II. Voting on routine decisions in the company's operations.
III. Receiving par value at liquidation.
IV. Receiving a dividend when declared.
A) II and III.
B) I and III.
C) I and IV.
D) II and IV.
Answer: A) II and III.