45.   In regards to the shares of a corporation, which statement is not valid: a. authorized shares may be greater than issued shares b. issued shares may be greater than outstanding shares c. outstanding shares may be greater than authorized, due to any treasury shares held d. treasury shares reduce the number of issued shares to determine outstanding shares

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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____   45.   In regards to the shares of a corporation, which statement is not valid:

a.

authorized shares may be greater than issued shares

b.

issued shares may be greater than outstanding shares

c.

outstanding shares may be greater than authorized, due to any treasury shares held

d.

treasury shares reduce the number of issued shares to determine outstanding shares

____   46.   When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds are

a.

convertible bonds

b.

unsecured bonds

c.

debenture bonds

d.

callable bonds

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