U.S. GAAP and IFRS on accounting for repurchases and reissuances of treasury shares follow the principle that
a. a corporation does not report a gain or loss on transactions involving its own shares.
b. the economic gain, or economic loss, are a component of accounting income.
c. that views treasury stock purchases and sales as operating transactions and therefore debits Cash (for economic gains) or credits Cash (for economic losses).
d. the effects are recognized in net income, other comprehensive income and Accumulated Other Comprehensive Income, and often Retained Earnings (depending on the specific accounting method used).
e. none of the above
A
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What will be an ideal response?
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