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

question 44

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)Usury
• B)Illegal and unenforceable
• C)Enforceable but with a fine
• D)Enforceable without a fine
• E)Executed

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Definitions:

Issued Shares

Shares that have been allocated to shareholders by a company, representing ownership in the company.

Net Assets

Net assets represent the total assets of a company minus its total liabilities, indicating the actual value of a company’s equity held by shareholders.

Acquisition

The process by which one company takes over another company either by purchasing its assets or its stock.

Goodwill

An intangible asset representing the excess of acquisition cost over the fair value of identifiable net assets acquired in a business combination.