Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is: Multiple Choice Account Title Debit Credit 2,000 Allowance for Doubtful Accounts. Bad Debts Expense 2,000 Account Title Debit Credit 2,000 Accounts Receivable-A. Hopkins Bad Debts Expense 2,000 Cash 2,000 Accounts Receivable-A. Hopkins 2,000 Account Title Debit Credit 2,000 Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts 2,000 O O о

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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.