Answer the following statement(s) true (T) or false (F)
1. Nonrefundable nonchargeable (true) retainer fees may be deposited directly into the attorney’s operating account instead of the trust account.
2. Some insurance companies require that firms keep manual records of trust account transactions.
3. Whenever a check is written, it is documented in the cash payments journal.
4. A hard copy is another name for a binder holding client ledger sheets.
5. Reconciling the trust account means closing it and sending the funds back to the clients.
1. True
2. True
3. True
4. False
5. False
You might also like to view...
What is the legal term for a master's obligation for his servant's acts?
What will be an ideal response?
What is the function of a personal representative?
What will be an ideal response?
?Useful tools for writing in plain English include which of the following?
A. ?A Plain English Handbook B. ?Federal Plain Language Guidelines C. ?Roger's Supreme Plain English D. ?A Plain English HandbookandFederal Plain Language Guidelines E. ?A Plain English Handbook,Federal Plain Language Guidelines, andRoger's Supreme Plain English
A condominiumis an example of
A. freehold asset. B. freehold interest. C. incorporealinterest. D. tenancy interest.