Which of the Following Statements Is $\underline{not}$ True Regarding the Efficient-Markets Hypothesis?
A)It Stems Primarily from the Efficient-Markets

Multiple Choice

Which of the following statements is $\underline{not}$ true regarding the efficient-markets hypothesis?

A) It stems primarily from the discipline of finance.
B) It assumes that market prices of publicly traded securities reflect fully all publicly available information.
C) As a result of this proposition, the impetus for less disclosure with more concern for choice among accounting alternatives has grown stronger.
D) It states that the return of a security is based on its risk.