Final answer:
The incorrect statement about professionalism is that professionals are commonly defined by the level of compensation. Professionalism is more focused on ethical behavior, competence, and adherence to professional standards, not monetary compensation. Licensure such as a CPA is a mark of professionalism and grants specific privileges.
Step-by-step explanation:
The statement that is INCORRECT regarding professionalism among the options given is: One way that professionals are commonly defined is by the level of compensation. This is not an accurate way to define professionals because professionalism is more accurately defined by a set of ethical standards, behavior, and level of competence in a skilled occupation which generally also includes acquiring specific education, obtaining a license, and maintaining a set of standards prescribed by a professional body.
Furthermore, while state governments do grant a CPA license to individuals who complete the required education, pass a professional examination, and complete an experience requirement, it is not the compensation that sets them apart as professionals. Instead, it is their specialized knowledge, accountability to a professional body, and the public trust in the work performed by CPAs that are core aspects of their professionalism. It is true that CPAs have the unique right to sign an audit or attest reports and to sign tax returns as tax preparers, as this is part of their professional licensing privileges.