Which of the following is not true concerning treasury stock?

Select one:

a. Holding treasury stock causes a company's number of shares issued and number of shares outstanding to be different.

b. Dividends are not paid on treasury stock.

c. Treasury stock is a reduction to stockholders' equity.

d. A company might repurchase its own stock to lower its stock price.

e. Treasury stock is recorded at the cost of the stock on the date it was repurchased.