What is referred to as the firm's stock that has been issued and then repurchased by the firm?

The term for a firm's stock that has been issued and then repurchased by the firm is known as Treasury Stock. This stock represents shares that the company buys back from the public, reducing the total amount of outstanding shares in circulation. Companies may repurchase their shares for various reasons, such as to reduce the number of shares outstanding, to increase earnings per share, or to have shares available for employee compensation plans.

Treasury Stock does not have voting rights, nor does it pay dividends, as it is essentially held by the company itself rather than by outside investors. This unique status distinguishes it from other types of stock. It is important to note that outstanding shares refer to shares currently held by shareholders, while preferred stock and common stock are types of ownership in the company with distinct characteristics and rights.