Michael D. Bayles | the Professions

question 57

Multiple Choice

Michael D. Bayles | The Professions
In this reading, Bayles discusses the characteristics of being a professional and the complex relationship between generally autonomous professionals and their supervisors. He distinguishes between consulting and scholarly professions, concluding with a discussion of how professions monopolize services in order to keep out untrained practitioners.
-Why do professionals tend to have a monopoly over the provision of services?

• A) to prevent supervisors from overriding their discretionary judgments
• B) to prevent those who are not legally prepared or licensed from practicing
• C) to ensure that everyone is allowed to practice, regardless of education
• D) to make it easier for clients to act without professional help

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Definitions:

Impairment Loss

The amount by which the carrying amount of an asset or cash-generating unit exceeds its recoverable amount.

NCI

An alternative term for non-controlling interest, highlighting the equity in a subsidiary not held by the parent company.

Parent Interest

Refers to the share of equity interest held by the parent company in a subsidiary, reflecting ownership and control.

Non-controlling Interest

A share in the equity and earnings of a subsidiary that are not owned by the parent company, also known as minority interest.