Which of the Following Best Describes an Efficient Capital Market

Multiple Choice

Which of the following best describes an efficient capital market?

A) All information is freely available and accessible. There is no assumption that it is accurately reflected in share price.
B) Not all information is freely accessible. However, that which is available, is quickly and accurately reflected in share prices.
C) All information is freely available and accessible. It is also assumed that the short term profit taking perspective of most investors may lead to inaccurate share prices.
D) All information is freely available, accessible and accurately reflected in share price.
E) Available information is assumed not always to be accessible and what is accessible is not always reflected accurately in share price.