Which of the Following Is Correct with Regard to Treasury

Multiple Choice

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

A) The acquisition of such shares by the corporation is a distribution to shareholders with an effect similar to that of a dividend.
B) Under the Revised Act, treasury shares are unauthorized but issued.
C) The 1980 amendments to the MBCA eliminated the concept of treasury shares.
D) Treasury shares are issued and outstanding.