The Mandatory Continuing Professional Education (CPE) Requirement for Members of the Institute

question 7

Multiple Choice

The mandatory continuing professional education (CPE) requirement for members of The Institute of Chartered Accountants in Australia is:

• A) 120 CPE hours every year.
• B) 120 CPE hours every three years.
• C) 60 CPE hours every three years.
• D) 60 CPE hours every year.

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Definitions:

Flexible Budget Performance Report

A report that compares the actual performance of a business to a budget that adjusts with the level of activity, providing insight into variance reasons.

Flexible Budget Report

A financial report comparing actual results to a budget that adjusts based on the actual level of output or activity, allowing for more meaningful analysis.

Variable Costs

Expenses that change in proportion to the level of production or business activity.

Level of Activity

A measure of the volume of work or production capacity a business entity engages in over a specific period.