What describes the capital stock that has been both subscribed and paid?

The capital stock that has been both subscribed and paid is described as issued stock. Issued stock represents shares that have been sold to and are held by shareholders. When a corporation issues stock, it receives payment for those shares, which increases its equity base.

This stock is different from authorized stock, which refers to the total number of shares that the corporation is allowed to issue according to its charter, regardless of whether those shares have actually been sold to investors. Paid-in capital refers to the total amount of money that shareholders have invested in the company through the purchase of shares, but it is not limited to just the stock that has been issued and paid for. Treasury stock, on the other hand, consists of shares that were once issued and are now repurchased by the company, and as such, they are not considered outstanding shares nor have they been subscribed by investors. Hence, issued stock accurately denotes the shares that have been both subscribed for and fully paid by the shareholders, making it the correct answer.