(Inventory Errors) 5. Machina Company began operations in 2021. During the first two years of operations, Machina made undiscovered errors in taking its year-end inventories that overstated 2021 ending inventory by P50,000 and overstated 2022 ending inventory by P40,000. The unadjusted profit of Machina Company was P200,000, P300,000, P500,000 for 2021, 2022 and 2023 respectively. What is the adjusted profit of Machina Company? 2023 2021 a. P150,000 b. P150,000 2022 P210,000 P260,000 P460,000 P500,000 c. P250,000 d. P150,000 P210,000 P500,000 P540,000 P310,000

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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.