Question

'To become a Chartered Accountant in India, a candidate has to clear a specified examination conducted by the Institute of Chartered Accountants of India' Which characteristic of management as a profession is highlighted in the above statement?

• A. Ethical code of conduct
• B. Professional Association
• C. Well defined body of knowledge
• D. Restricted entry

Hint:

In management, entry is not restricted (you can be a CEO with any degree), but in true professions like CA, Law, or Medicine, entry is strictly restricted by law and examinations.

Answer 1

The Correct Option is D

Concept: A profession is an occupation backed by specialized knowledge and training, in which entry is restricted. While management is not yet a "full" profession like law or medicine (as anyone can be a manager regardless of degree), it shares some characteristics with them.

Step 1: Analyzing the requirement.
The statement specifies that becoming a CA requires passing a "specified examination." This acts as a formal barrier, ensuring that only qualified individuals can enter the field.

Step 2: Identifying the specific characteristic.

• Restricted entry: This characteristic means that entry to a profession is not open to everyone; it is restricted through an examination or acquiring a specific educational degree.
• Professional Association: While the ICAI is an association, the statement's primary focus is the process of qualifying through an exam.

Step 3: Conclusion.
Since the text highlights the mandatory exam as a prerequisite for entry, it explicitly illustrates Restricted Entry. This corresponds to option (D).