A broker would not be required to maintain trust records in which of the following transactions:
A: A check promptly delivered to escrow;
B: A check promptly delivered to seller;
C: A check promptly delivered to the seller that was given as the deposit in an offer to purchase containing a contingency clause;
D: None of the above.
Answer: D: None of the above.
You might also like to view...
Maxwell is very comfortable working with numbers and complex logical problems. His work involves guiding and helping subordinates solve problems related to coding and numbers. Since he is proficient with mathematical theories and has acquired extensive knowledge about the subject, his superiors regularly consult him. This proficiency has been acquired as a result of _____.
A. shadowing B. action learning programs C. simulations D. formal education
With respect to privileged communications of accountants, which of the following is true?
A. A state statutory privilege will be recognized in a case being tried in a federal court involving a federal question. B. Most courts recognize a common law privilege between an accountant and the client. C. As a result of legislative enactment and court adoption, the client-accountant privilege is recognized in the majority of jurisdictions. D. The privilege will be lost if the party asserting the privilege voluntarily submits part of the privileged communications into evidence.