5. The number of shares of a class of stock that are outstanding is:

the number of shares issued minus the number of shares owned by directors.

the number of shares issued minus the number of shares held as treasury stock.

the number of shares authorized minus the number of shares held as treasury stock.

the number of shares authorized minus the number of shares issued.

6. Which of the following is not a stockholders' equity account?

Capital stock.

Accumulated depreciation.

Common stock.

Retained earnings.

Paid-in-capital in excess of par.

7.

When a stock dividend is declared and issued:

total paid-in capital does not change.

retained earnings is normally decreased by the par value of the shares issued in the dividend.

total stockholders' equity does not change.

total paid-in capital is decreased by the market value of the shares issued in the dividend.