Final answer:
The statement that a Certified Public Accountant must meet educational, and experience requirements, and pass a qualifying exam before becoming licensed is true. CPAs must complete academic coursework, accrue work experience, and pass an exam to ensure competence in accounting and finance.
Step-by-step explanation:
A Certified Public Accountant (CPA) must indeed meet certain educational and experience requirements and pass a qualifying exam before becoming licensed to serve the general public. This statement is True. CPAs are professionals who are qualified to perform a variety of accounting and financial services for individuals, businesses, and government agencies. Before licensure, aspiring CPAs need to complete a program of study in accounting at a college or university, accumulate a certain amount of work experience under the supervision of a licensed CPA, and pass the Uniform CPA Examination. This rigorous process ensures that CPAs are well-equipped to maintain public trust in the capital markets and financial statements and to advise clients on a variety of financial matters.
While the role of the Comptroller of Public Accounts differs from that of a CPA, both positions have a focus on financial accountability and integrity. The comptroller is a state-level official responsible for overseeing the accounting and financial operations of the state, which includes preparing annual financial statements and ensuring the proper collection of state revenues.