1)Treasury stock shares are

a. unissued shares that are held by the treasurer of the corporation.

b. part of the total outstanding shares but not part of the total issued shares of a corporation.

c. shares held by the U.S. Treasury Department.

d. issued shares that have been reacquired by a corporation.

2) When a stock dividend is declared, which of the following accounts is credited?

a. Common Sock

b. Retained Earnings

c. Stock Dividends Distributable

d. Dividend Payable

3) Under the corporate form of business organization,

a.stockholders wishing to sell their corporate shares must get the approval of other stockholders.

b.corporations are not subject to the Sarbanes-Oxley Act.

c.ownership rights are easily transferred.

d.a stockholder is personally liable for the debts of the corporation.

4) Treasury stock that had been purchased for $3,849 last month was reissued this month for $5,600. What would the journal entry to record the reissuance include?

Select the correct answer.

a. Debit to Treasury Stock for $3,849

b. Credit to Treasury Stock for $3,849

c. Credit to Treasury Stock for $1,751

d. Credit to Excess of Par/Common for $1,751