Which One of the Following Statements Is True

Multiple Choice

Which one of the following statements is true?

A) Highly positive serial correlations are indicators of market efficiency.
B) Abnormal returns limited to the announcement date are indicators of market inefficiency.
C) Market studies indicate that stock markets are only weak form efficient.
D) Studies seem to indicate stock markets are semistrong but not strong form efficient.
E) Mutual funds provide little,if any,benefit to investors.