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Which of the following statements about treasury stock is true? Gains are not recorded on treasury stock transactions but losses are. Losses on treasury stock

Which of the following statements about treasury stock is true?

Gains are not recorded on treasury stock transactions but losses are.

Losses on treasury stock transactions are recorded in income.

Excess of the sales price over cost should be credited to retained earnings.

None of these

Reacquiring treasury stock causes stockholders equity to decrease.

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