Which of the Following Is Not an Element of Competency

question 13

Multiple Choice

Which of the following is not an element of competency?

• A) To develop appropriate knowledge about a particular subject.
• B) To perform duties in accordance with relevant laws.
• C) To perform duties in accordance with relevant technical standards.
• D) To refrain from engaging in an activity that would discredit the accounting profession.
• E) To prepare clear reports after an analysis of relevant and reliable information.

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Definitions:

Sales Potential

The estimated maximum total sales revenue of a product in a specific market during a certain time period.

Tangible Assets

Physical assets owned by a business or individual, such as machinery, buildings, and inventory.

Book Value

The net value of a company's assets as recorded on its balance sheet, often used to assess whether a stock is under- or overvalued.

Replacement Value

The cost to replace an asset or property with another of similar type and quality in its current state, without considering depreciation.