A Chartered Accountant Receives an Operating License from the Federal

question 24

True/False

A chartered accountant receives an operating license from the federal government that is good for a three-year period.

---

Definitions:

Federal Government

The national government of a country, which holds the primary authority over its constituents, such as states or provinces.

Branches of Government

The division of government into separate parts, typically including the executive, legislative, and judicial branches, each with distinct powers and responsibilities.

Doctrine of Federal Subrogation

A legal principle allowing the government to take over the legal rights of a person to whom it has paid money, typically in insurance.

Concurrent Authority

Legal jurisdictions or powers that are shared by different governmental or regulatory bodies.