Under the MBCA,which of the Following Is Correct Concerning Shares

Multiple Choice

Under the MBCA,which of the following is correct concerning shares repurchased by the corporation?

A) They are no longer issued or outstanding,which means that they may be resold only for par value or more.
B) They may either be restored to unissued status or held as treasury shares,which means they may be sold at any price.
C) They may be canceled,in which case they are no longer authorized and cannot be reissued.
D) They are issued but not outstanding,which means they may be resold at any price.