How Can Competence and Due Care Best Be Described

question 48

Multiple Choice

How can competence and due care best be described?

• A) Competence and due care both refer to the PA doing their best for their clients.
• B) Competence refers to technical ability; due care refers to strictly following official pronouncements of accounting principles.
• C) Competence is knowing what do; due care is doing it to the best of one's abilities.
• D) Competence and due care both refer to ongoing technical training.

---

Definitions:

Rival

A competitor or adversary who is in competition for the same objective or for superiority in the same field.

Excludable

Describes a good or service for which it is possible to prevent non-paying customers from accessing it.

Marginal Social Benefit

The extra advantage that the entire society gains from using an additional unit of a product or service.

Public Good

A product that is non-excludable and non-rivalrous in consumption, meaning it is available to all members of society without depletion.