Which of the Following Is Incorrect with Regard to Treasury

Multiple Choice

Which of the following is incorrect with regard to treasury shares?

A) No dividends may be paid on treasury shares.
B) They are issued but not outstanding.
C) A corporation may sell treasury shares for any amount the board of directors determines,even if the shares have a par value that is more than the sale price.
D) The concept of treasury stock was created by the MBCA and is carried forward in the RMBCA.