Which of the following is an example of the planning function of the budgeting process? A. A budget demands integrated input from different business units and functions. O B. The budget outlines a specific course of action for the coming period. OC. Employees are motivated to achieve the goals set by the budget. O D. Budget figures are used to evaluate the performance of managers.

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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.