Which One of the Following Statements Is NOT Correct? Expulsion

question 46

Multiple Choice

Which one of the following statements is NOT correct? Expulsion from CPA Australia or the ICAA for disciplinary reasons:

• A) prevents an individual from practising as a public accountant.
• B) should be seen as a weighty social sanction.
• C) might provide a basis for the Companies Auditors and Liquidators Disciplinary Board to suspend or cancel registration.
• D) should be seen as a weighty economic sanction.

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Definitions:

Cost Of Goods Sold

Cost of Goods Sold (COGS) represents the direct costs attributable to the production of the goods sold by a company, including materials and labor costs.

Receivables Turnover

A financial metric that measures how efficiently a company collects cash from its customers by dividing net credit sales by average accounts receivable.

Collection Period

The average number of days it takes for a business to receive payments from its customers after a sale has been made.

Accounts Receivable

Represents the money owed to a company by its customers for goods or services that have been delivered but not yet paid for.