Question 1 For the current period, LAVADA Co. had the following transactions with SOAPEE Co. Jul 01 Sales on account of P280,000, FOB shipping point, freight collect, P12,000 Jul 21 Partial collection of account, P80,000. Sep 01 Received a one-year, P220,000, noninterest bearing note for the unpaid balance The prevailing rate for notes of this type is 10% Dec 01 Discounted the note in a bank at 15% The company's policy for credit sales is a 2/10, 1/30, n60 basis and normally grants the cash discount only upon fuli payment. Any applicable freight charge is allocated on a pro-rata basis How much is the gain/(loss) on discounting? O 6.750 gain O 8.250 loss 09.750 loss O 24.750 loss

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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.