Public accounting is generally recognized as a profession. In response to a homework assignment on the characteristics of public accounting that make it a profession, a student gave the following answer:

1. Specialized knowledge:

a. Bachelor of science programs in accounting.

b. Separate professional schools of accounting.

2. Uniform entrance requirements:

a. Licensing of a CPA by state associations of CPAs.

b. Uniform CPA examination administered by the AICPA.

3. Self-policing:

a. The SEC.

b. State boards of accountancy.

4. Community acceptance:

a. Freedom from state government interference.

b. Code of Professional Ethics.

Required:
Indicate the proper identification of the four characteristics of a profession and identify at least two reasons per characteristic that are properly applicable to public accounting.