Which of the Following Is Not One of the Characteristics

question 2

Multiple Choice

Which of the following is not one of the characteristics of a mature profession?

• A) code of ethics
• B) licensing
• C) mandatory drug testing
• D) mandatory professional development
• E) professional education

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Definitions:

Loss On Realization

occurs when the proceeds from selling an asset or settling a liability are less than the carrying amount on the books.

Noncash Assets

Assets that cannot be easily converted into cash, such as real estate, equipment, and investments.

Capital Balances

The amount of money each partner has invested in a partnership or the equity value in partnerships' accounts.

Statement Of Partners' Equity

A financial document that shows changes in the ownership interest of partners in a partnership over a period of time.