(b) Briefly explain if the following examples demonstrate the efficient contract view. (i) Accounting numbers are used to design bonus plan contracts rather than share prices; (Maximum words: 150) () As part of the debt contracts, the leverage ratio (i.e., debt to total tangible assets) excludes intangible assets from the denominator; (Maximum words: 150) (ii) A manufacturing company recognises sales revenue at the time of production, even though the company receives no guaranteed sales contract. (Maximum words: 150) (b) Briefly explain if the following examples demonstrate the efficient contract view. (i) Accounting numbers are used to design bonus plan contracts rather than share prices; (Maximum words: 150) () As part of the debt contracts, the leverage ratio (i.e., debt to total tangible assets) excludes intangible assets from the denominator; (Maximum words: 150) (ii) A manufacturing company recognises sales revenue at the time of production, even though the company receives no guaranteed sales contract. (Maximum words: 150)