Final answer:
A designated consultant is the responsible individual for the preparation of all personal income tax returns prepared for the public for each registered business.
Step-by-step explanation:
A designated consultant is an individual who is responsible for preparing all personal income tax returns for each registered business. They are the consultant who takes on the role of being the responsible person for preparing the tax returns that are intended for the public. This consultant is designated to handle the tax preparation process for the business's clients.
For example, if a consulting firm has multiple consultants who prepare tax returns, one of them may be designated as the responsible individual for overseeing the preparation of all personal income tax returns prepared for the public.
So, the statement is true. A designated consultant is the responsible individual for the preparation of all personal income tax returns prepared for the public for each registered business.