At the date of the financial statements, common stock shares issued would exceed common stock shares outstanding as a result of the
A) declaration of a stock split.
B) declaration of a stock dividend.
C) purchase of treasury stock.
D) payment in full of subscribed stock.

Question

Quizplus · Accepted Answer

When a company purchases treasury stock, it buys back its own shares, reducing the number of shares outstanding while the number of shares issued remains the same.

At the Date of the Financial Statements, Common Stock Shares