Indicate Whether Each of the Following Statements About Treasury Stock

True/False

Indicate whether each of the following statements about treasury stock is true or false.
_____ a)One reason for a corporation to buy its own stock is to boost its net income when treasury stock is reissued for a higher price.
_____ b)Corporations may buy back their own stock (treasury stock)to avoid hostile takeovers.
_____ c)Purchasing treasury stock reduces the number of issued shares.
_____ d)The treasury stock account is classified as a contra equity account.
_____ e)If treasury stock is reissued for an amount lower than its purchase price, retained earnings is increased.