If a Licensing Statute Is Intended to Protect the Public's

question 5

Multiple Choice

If a licensing statute is intended to protect the public's health,safety,and welfare,an agreement with an unlicensed professional is typically deemed ________.

• A)executed
• B)enforceable without a fine
• C)illegal and unenforceable
• D)enforceable,but with a fine imposed on the unlicensed professional
• E)usurious but conditionally enforceable,depending on the circumstances of the case

---

Definitions:

Expenses Recorded

The process of documenting all costs incurred during a specific period in the financial records, which are used to assess the company's profitability.

Current Ratio

A financial ratio that measures the number of times the firm can cover its current liabilities with its current assets.

Current Liabilities

A company's obligations or debts that are due within a year or within its operating cycle.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within a year or within the operating cycle of the business, whichever is longer.