Licensing Requirements for Doctors,which Are Intended Primarily to Maintain the Quality

question 12

True/False

Licensing requirements for doctors,which are intended primarily to maintain the quality of persons who work in the profession,have no the effect on the profits of those individuals because the number of competitors is so large.

---

Definitions:

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in net income or loss.

Net Income

The final earnings of a company after total revenue has had all taxes and expenses removed.

Current Assets

Assets that a company expects to convert into cash, sell, or consume within one year or its operating cycle, whichever is longer.

Current Liabilities

Short-term financial obligations that are due within one year or within the entity's operating cycle.