Which of the following responses describes treasury stock?

Treasury stock refers to shares that were issued by a company and subsequently repurchased by the company. These shares are held in the company’s treasury and are not considered outstanding.

C is correctbecause treasury stock is stock reacquired by the issuer.

Ais incorrect because authorized but unissued stock has never been issued.

Bis incorrect because restricted stock refers to shares issued with restrictions on transferability, not reacquired stock.

Dis incorrect because it incorrectly refers to government securities, not corporate stock.