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.”