Which Aspect of Business Protects the Public by Enforcing Standards

question 39

Multiple Choice

Which aspect of business protects the public by enforcing standards that restrict practice to qualified individuals who have met specific qualifications?

• A) Occupational license
• B) Sales tax permit
• C) Professional liability insurance
• D) Professional license

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Definitions:

Prescriptive Statement

Normative assertions that suggest how things should be, often based on opinions or value judgments.

Normative Statement

An opinion or value judgment that reflects what one believes should be rather than what actually is, often involving terms like "ought" or "should."

United States Government

The United States Government is the federal government of the United States, consisting of three distinct branches: legislative, executive, and judicial, each with its own powers and responsibilities.

Opportunity Cost

The expense associated with missing out on the second-best choice when a decision is made, denoting the advantages that are not received.