In Most Countries,a National Accounting Profession Controls Access to the Profession

question 182

Multiple Choice

In most countries,a national accounting profession controls access to the profession while legislation prevents anyone other than its members from auditing public corporations.These conditions increase the accounting profession's power through which of the following?

• A)Visibility
• B)Nonsubstitutability
• C)Centrality
• D)Discretion
• E)Referent power

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Definitions:

Marginal Cost

The increase in total production cost that arises from producing one additional unit of a good or service.

Public Good

A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.

Nonexcludable

A characteristic of a good where it is not possible to prevent individuals from accessing or consuming the good.

Nonrival Consumption

A situation where one individual's consumption of a good does not reduce the amount available for consumption by others.