The Core Body of Knowledge for Any Profession Outlines an Agreed-Upon

question 37

True/False

The core body of knowledge for any profession outlines an agreed-upon code of ethics and practices for those who practice in that profession.

---

Definitions:

Trade or Business

An activity undertaken by a person or entity for the purpose of earning profit from selling goods or services.

Capital Assets

Long-term property owned for investment or personal purposes, including stocks, bonds, real estate, and equipment.

IRC

The Internal Revenue Code, which is the comprehensive set of tax laws created by the Internal Revenue Service in the United States.

Personal or Investment Purposes

The intention behind acquiring or using property, either for personal enjoyment or to generate income or profit.