51. The number of shares of authorized stock of a corporation:

a. must be recorded as a journal entry.

b. changes every time stock is sold.

c. has no limit.

d. is stated in the charter.

52. If ending inventory is understated for Year 1, then in Year 2:

a. cost of goods sold and gross profit will both be understated.

b. cost of goods sold will be understated and gross profit will be overstated.

c. cost of goods sold and gross profit will both be overstated.

d. cost of goods sold will be overstated and gross profit will be understated.

What are the answers? please let me know!