The shareholders' equity section of De Guzman Corporation revealed the following information on Dec. 31, 2018: P2,300,000 805,000 Preference Shares, P100 par Share Premium-Preference Ordinary Shares, P15 par Share Premium-Ordinary 5,250,000 2,750,000 50,000 Subscribed Ordinary Shares Retained Earnings 1,900,000 4,000,000 400,000 Notes Payable Subscriptions Receivable-Ordinary Required: How much is the legal capital?

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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.