2. Which of the following statements is true? a.The shares that are in the hands of the shareholders are said to be outstanding. b.It is very unlikely that corporations will have more than one class of shares outstanding. c.Preferred shares are shares that have been retired. d.The outstanding number of shares is the maximum number of shares that can be issued by a corporation.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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2.

Which of the following statements is true?

a.The shares that are in the hands of the shareholders are said to be outstanding.
b.It is very unlikely that corporations will have more than one class of shares outstanding.
c.Preferred shares are shares that have been retired.
d.The outstanding number of shares is the maximum number of shares that can be issued by a corporation.
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