Which of the followings is a hypothesis of positive accounting theory? Select one: O a. Debt hypothesis O b. Agency relationship O c. liabilities cost O d. Asset covenant Normative approach of research in accounting relies on the past observations Select one: O a. True O b. False For agency theory, the term "agent" means Select one: O a. owner O b.investor O c. stakeholders O d. manager Which of the following research approaches emphasizes going from general to specific? Select one: O a. Behavioral O b. Inductive O c. General O d. Deductive The Efficient Market Hypothesis was suggested by Watt and Zimmerman Select one: O a. False O b. True Which of the followings is NOT an element of the Financial Statements? Select one: O a. Assets O b. Faithful representation O c. Owners' Equity O d. Income