Which of the Following Are Correct Regarding Criteria That Constitute

question 5

Multiple Choice

Which of the following are correct regarding criteria that constitute a profession? Select all that apply.

• A)the body of specialized knowledge is continually developed and evaluated through research
• B)members are self-organizing and collectively assume responsibilities of establishing standards for education in practice
• C)the privilege to practice is granted only after the individual has completed a standardized program of specified education and has demonstrated the ability to meet the standards of practice
• D)professional status is achieved when an occupation involves a unique practice and its members declare it one

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Definitions:

Depreciation Expense

The allocated portion of the cost of a tangible fixed asset written off each year, reflecting its usage and wear and tear.

Patent Amortization

The gradual expensing of the cost of a patent (an intangible asset) over its useful life.

Quality Of Income Ratio

A metric assessing the proportion of income that has been realized or converted into cash, providing insight into the company's cash flow quality.

Receivables

Amounts due to a company for goods or services that have been provided but not yet paid for by the customers.