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Which statements about treasury stock is false

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Problem 1: Which of the following statements about treasury stock is false?

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

B. Acquiring treasury stock causes stockholders' equity to decrease.

C. Treasury stock is reported as a deduction from stockholders' equity.

D. The excess of the sales price of treasury stock over its cost should be credited to Paid-in Capital from Treasury Stock.

Problem 2: Which of these statements concerning companies is correct?

A. A shareholder is personally liable for the debts of the company.

B. Shareholders' acts can bind the company even though the shareholders have not been appointed as company agents.

C. A company, as a separate legal entity, can have perpetual life.

D. Shareholders wishing to sell their shares must get the approval of the other shareholders.

Reference no: EM132756558

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