A bonus may be paid in each of the following situations EXCEPT: By a new partner to the original partners when the current value of a partnership is greater than the book amounts of equity. By a withdrawing partner to remaining partners if the recorded value of the withdrawing partner's equity is overstated. To a new partner with exceptional talents. By remaining partners to a withdrawing partner if the recorded equity of the withdrawing partner is overstated. By remaining partners to a troublesome partner to get rid of him.

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.