Presented below are selected transactions for Mohamad Company for 2008. Jan. 1 Received $3,000 scrap value on retirement of machinery that was purchased on January 1, 1998. The machine cost $80,000 on that date, and had an estimated useful life of 10 years with no residual value. April 30 Sold a printing machine for $50,000 that was purchased on January 1, 2005. The printer cost $90,000, and had an estimated useful life of 5 years with no residual value. Dec. 31 Discarded a business automobile that was purchased on September 1, 2003. The car cost $20,000 and was amortized on an 8-year useful life with a residual value of $800. Instructions Journalize all entries required as a result of the above transactions. Mohamad Company uses the straight-line method of amortization and has recorded amortization to December 31, 2007. GENERAL JOURNAL DATE PARTICULARS PR DEBIT CREDIT

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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.