Final answer:
True, tax preparers are required to display their licenses as evidence of their qualifications, as are many other professionals. These requirements are part of occupational licensing laws to ensure quality and protection in the labor market and are often mandated by government agencies.
Step-by-step explanation:
The statement that each tax preparer shall display the evidence of his/her license issued to him/her in accordance with rules adopted by the Board is most likely true. This reflects the practices within the labor market, where occupational licenses are often required to signify that a worker has met certain educational or testing standards, thereby establishing quality within their field of work. Not only tax preparers, but a vast number of professions such as doctors, lawyers, and real estate brokers are required to hold and often display their licenses.
These licenses are issued by government agencies and enforce certain standards that professionals must adhere to. Moreover, the display of licenses acts as a reassurance to consumers about the credentials of the service provider they are dealing with. Market quality is maintained through this practice, and it prevents fraud by making sure only qualified individuals are engaging in specific professional services.
In addition to the legal requirement for certain professionals to hold a license, there are also regulations in place mandating the disclosure of information by businesses, further ensuring transparency and protection for consumers.