Recognize Text - Settings description

Product: Adobe Acrobat DC

Function: Recognize Text

When looking in the settings, there are 3 options provided in the drop down menu.

Output:

(1). Searchable Image

(2). Searchable Image (Exact)

(3). Editable Text and Images

Please could someone explain, what are the detailed differences for each of these options. 

I am unable to find clear and detailed information about the same Adobe Help, hence this post.

Thanks in advance.