Question 5 (1 point) Common stock has voting rights; preferred stock usually does not have voting rights. True False Question 6 (1 point) When a company issues stock, the journal entry to record the transaction will cause reported 'Net Income' to increase. True False Question 7 (1 point) Balmor Corporation's balance sheet showed the following data about its $0.01 par value common stock: authorized shares = 15 million; unissued shares = 10 million; treasury shares = 1 million. The number of outstanding shares is: 4 million outstanding shares 2 million outstanding shares 5 million outstanding shares 3 million outstanding shares Question 8 (1 point) When a company grants stock options to employees, the journal entry to record the transaction will cause reported 'Net Income' to decrease. True False