Faith D. Nakpil started her accounting practice on November 3, 2021 by investing P145,000 cash and her old laptop with an original cost of P64,000 but with a fair value of P31,000 at the time of investment. How much was the initial capital of Faith?

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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.