All of the following regarding accounting for Treasury Stock are true except:

A. Treasury Stock does not have voting rights.
B. Treasury Stock receives cash dividends but not stock dividends.
C. Treasury Stock is presented on the balance sheet as a contra equity account.
D. Corporations do not record gains or losses on transactions involving their own stock.
E. Purchasing Treasury Stock reduces the corporation's assets and equity by equal amounts.


Answer: B

Business

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