ACCOUNT: Income Summary ACCOUNT NO. 399 Balance Description Debit Credit Debit Credit 48,500 17,400 Date Closing Closing Closing Dec. 31 48,500 31 31,100 17,400 31 ACCOUNT: Karen Randall, Capital ACCOUNT NO. 301 Balance Credit Debit Credit Date Description Debit Dec. Closing Closing 154,000 171,400 164,600 31 17,400 31 6,800 A. What is the total revenue for the period? B. What is the total expenses for the period? C. What is the net income (loss) for the period? D. What is the owner's withdrawals for the period? A. Total revenue B. Total expenses c. Net income D. Owner's withdrawals

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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.