Under the perpetual inventory system, all purchases of merchandise are debited to the account entitled a. Merchandise Inventory O b. Cost of Merchandise Sold c. Cost of Merchandise Available for Sale d. Purchases Which of these events cannot be quantified and recorded as an accounting transaction? The election of a new set of board of directors The purchase of a new computer The sale of store equipment Payment on income taxes

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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.