A Person Generally Is Not Entitled to Act as a Lawyer

question 70

True/False

A person generally is not entitled to act as a lawyer in Canada unless they have completed a "period of articles." That phrase refers to the fact that admission to the bar depends upon proof that a person went to law school for a certain length of time.

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Definitions:

Periodic Inventory System

A method for tracking inventory where the inventory count is physically updated at specific intervals, resulting in periodic adjustments.

Purchases Account

An account used in the accounting records to track the buying of merchandise for resale during an accounting period.

Temporary Account

An account that is cleared to zero at the end of an accounting period to calculate income and expenses for that period.

Gross Profit Margin

A financial metric indicating the percentage of revenue that exceeds the cost of goods sold, reflecting the efficiency of a company in managing its production costs.