A partnership recorded the following journal entry: Cash 70,000 Tanner, Capital Jackson, Capital Rivera, Capital 10,000 10,000 90,000 This entry reflects: O Acceptance of a new partner who invests $70,000 and receives a $20,000 bonus. Withdrawal of a partner who pays a $10,000 bonus to each of the other partners.

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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.