Regarding the number authorized, issued, and outstanding shares of stock, not all authorized shares will necessarily be issued and/or outstanding. Firms generally have more authorized shares than issued and/or outstanding shares because of the difficulties in amending the corporate charter. In fact, it is possible to have more issued shares than outstanding shares if a firm has resold its stock, which is the case of preferred stock repurchased its stock, which is the case of preferred stock repurchased its stock, which is the case of treasury stock resold its stock, which is the case of treasury stock