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Which of the following statements about treasury stock is true? A. Excess of the sales price over cost should be credited to retained earnings. B.

Which of the following statements about treasury stock is true?

A. Excess of the sales price over cost should be credited to retained earnings. B. Gains are not recorded on treasury stock transactions but losses are. C. Losses on treasury stock transactions are recorded in income. D. Reacquiring treasury stock causes stockholders equity to decrease. E. None of these.

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