Distinguish among the following common stock concepts
a. Authorized shares – the total number of shares a company can issue as approved by the government.
b. Issued shares – the total number of shares sold to investors at any time in the past.
c. Outstanding shares – the number of shares currently in the hands of investors.
d. Treasury shares – the number of issued shares not currently in the hands of investors having been repurchased by the company and “held in the company’s treasury.”