Question Tag: Profession

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CSME – Nov 2020 – L2 – Q6D – Corporate Governance

Differentiate between a trade and a profession.

The ICAN Professional Code of Conduct and Guide for Members requires every member or student of the Institute to always “act professionally” and in “the public interest” in the discharge of their responsibilities.

Required:

Differentiate between a trade and a profession.

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BMF – May 2022 – L1 – SB – Q3a – The Business Environment

Stating benefits and drawbacks of profession, employment, and business with examples.

State TWO benefits and ONE drawback each of profession, employment, and businesses with copious examples.

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BMF – May 2023 – L1 – SA – Q8 – The Role of Professional Accountants in Business and Society

Identify an incorrect feature describing a profession.

A profession is an economic activity involving the provision of a personal service of a specialised nature. All the following features describe a profession, EXCEPT:

A. Main motive is to make a profit
B. Regulated by a professional body
C. Charges a fee for services rendered
D. Mandatory acquisition of a special knowledge and skill
E. Subject to discipline for breach of the code of conduct of the regulatory body

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BMF – May 2024 – L1 – SB – Q4c – Business and Organizational Structures and Choices

Distinction between profession and employment based on qualification, nature of work, establishment, and motive.

c. On the basis of qualification, nature of work, establishment, and motive, distinguish between profession and employment. (4 Marks)

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BMF – May 2024 – L1 – SA – Q6 – The Role of Professional Accountants in Business and Society

Identifying a feature that is not part of a profession's characteristics.

Which of the following is NOT a feature of a profession?
A. Admit new members to the profession
B. Award qualifications to individuals who achieve a required standard of skill or competence
C. Expel members from the profession for professional conduct
D. High entry requirements
E. An extensive period of rigorous academic training in a particular area

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CSME – Nov 2020 – L2 – Q6D – Corporate Governance

Differentiate between a trade and a profession.

The ICAN Professional Code of Conduct and Guide for Members requires every member or student of the Institute to always “act professionally” and in “the public interest” in the discharge of their responsibilities.

Required:

Differentiate between a trade and a profession.

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BMF – May 2022 – L1 – SB – Q3a – The Business Environment

Stating benefits and drawbacks of profession, employment, and business with examples.

State TWO benefits and ONE drawback each of profession, employment, and businesses with copious examples.

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BMF – May 2023 – L1 – SA – Q8 – The Role of Professional Accountants in Business and Society

Identify an incorrect feature describing a profession.

A profession is an economic activity involving the provision of a personal service of a specialised nature. All the following features describe a profession, EXCEPT:

A. Main motive is to make a profit
B. Regulated by a professional body
C. Charges a fee for services rendered
D. Mandatory acquisition of a special knowledge and skill
E. Subject to discipline for breach of the code of conduct of the regulatory body

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BMF – May 2024 – L1 – SB – Q4c – Business and Organizational Structures and Choices

Distinction between profession and employment based on qualification, nature of work, establishment, and motive.

c. On the basis of qualification, nature of work, establishment, and motive, distinguish between profession and employment. (4 Marks)

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BMF – May 2024 – L1 – SA – Q6 – The Role of Professional Accountants in Business and Society

Identifying a feature that is not part of a profession's characteristics.

Which of the following is NOT a feature of a profession?
A. Admit new members to the profession
B. Award qualifications to individuals who achieve a required standard of skill or competence
C. Expel members from the profession for professional conduct
D. High entry requirements
E. An extensive period of rigorous academic training in a particular area

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