the definition says 'a scheme or system of ideas or statements held as an explanation or account of a group of facts or phenomena' is: Select one: O a. the definition of accounting O b. an explanation of inflation accounting O c. is irrelevant to theory definition O d. the general meaning of theory The term market in Capital Market Based Accounting Research means Select one: O a. Vegetable market O b. Stock market O c. Fruit market O d. Scrap market The president of X Corp. believes it is foolish to report financial information on a yearly basis. Instead, the president believes that financial information should be disclosed only when significant new information is available related to the company's operations. This Violated --... Select one: O a. Violated Economic entity O b. Time period assumption O c. Violated Historical cost O d. Consistency If the LIFO inventory method was used last period, it should be used for the current and following periods because of Select one: O a. consistency O b. materiality O c. timeliness O d. verifiability the form of market efficiency that assume the share price reflects the historical movement of prices is the: Select one: O a. the statement is irrelevant to market efficiency O b. Weak form of market efficiency O c. ineffective approach O d. strong form of market efficiency if some land, which was initially acquired for $1,000,000 when the consumer price index was 100, and the consumer price index at the end of the current period is 118. The current value of land under Current Purchasing Power is Select one: O a. 1200000 O b. 1300000 O c. 1000000 O d. 1180000