Some states allow corporations to issue no-par value common stock.
a. True
b. False

Bagel Inc. issued 50,000 shares of the 100,000 authorized. It has since repurchased 5,000 of its shares. The number of shares outstanding equals ______ shares.
a. 95,000
b. 105,000
c. 45,000
d. 50,000
e. 55,000