Stock would be redeemable at the option of the shareholder at any point for the value the stock was originally sold at$.$ The holder of the stock would be under no obligation to redeem any of the stock. How would GAAP and IFRS classify this stock on the Balance Sheet.

$\backslash$table$[[,$GAAP,IFRS$],[$a$.,$Equity,Equity$],[$b$.,$Liability,Liability$],[$c$.,$Equity,Liability$],[$d$.,$Liability,Equity$]]$

The Day Corp. holds $1,000$ shares of its $$5$ par value common stock as treasury stock that the company purchased in $2025$ for $$150,000.$ On December $12,2026,$ Day reissued all $1,000$ shares for $$160,000.$ Under the cost method of accounting for treasury stock, the reissuance journal entry resulted in a:

a$.$ Credit to Common Stock for $$10,000.$

b$.$ Credit to Treasury Stock for $$160,000.$

c$.$ Credit to Gain on Sale of $$10,000.$

d$.$ Credit to Paid in Excess of $$10,000.$

e$.$ None of the above are correct.