I believe you will find that there are 11 squares (and 27 rectangles).
@JonTom,
Don't forget your high school geometry. A square is a "special" kind of rectangle. Not all rectangles are squares… but all squares are also rectangles (as well as being a polygon, rhombus, quadrilateral, parallelogram, and probably a few others.)
Well done everyone… but terry1966 was first and therefore gets the cotton candy.