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mario62 [17]
2 years ago
10

Broker Brad accidentally deposited his commission in the trust fund account instead of his business account. Because it remained

in the account for more than 25 days, he is guilty of:
Business
1 answer:
Zielflug [23.3K]2 years ago
5 0

Answer:

Commingling non-trust funds with trust funds

Explanation:

Trust funds

This is simply known as money or other valuable items that is received by the broker on behalf of another individual.

Non-trust funds

This are simply real estate commissions, general operating funds, rents and deposits.

Commingling

This is simply the act of combining a client's money with the agent's personal funds and it is illegal. It is the act of putting or depositing rent and security deposit into the trust account. When a Commissioner audits the account and sees either commingling of trust funds, the court may issue an order to restrain the broker from further mishandling of trust funds and from practicing real estate. It is a violation of real estate law if the trust account is commingled and it is considered commingling when the trust funds are first deposited into the general brokerage account and then transferred to the trust account.

If a licensee is found guilty of conversion of trust funds

1. There will be a revoke the license of the licensee.

2. The assets of the licensee may be sold to recover the converted funds.

3. The receiver account may be imposed on the licensee's assets in order to find and recover the converted funds.

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Part II: Article II, Section I of the U.S. Constitution provides that the president must "take care that the laws be faithfully
xz_007 [3.2K]

Answer: Yes it is.

Explanation:

The Constitution puts the President at the head of the Executive branch of government and provides that the President should ensure that the laws of the land are faithfully executed.

Seeing as executive orders are issued to members of the executive - which are under the President - and are done to ensure that the laws of the land are carried out, the President is not only following the Constitution's directives in  Article II, Section I of the Constitution but doing it within their power as head of the executive.

Executive orders are therefore an implied constitutional power that the President has.

4 0
2 years ago
A company is preparing its cash budget for the coming month. All sales are on account. Given the following: Beginning Balances B
iVinArrow [24]

Answer:

$56,000

Explanation:

Given the above information, we will calculate first the total cash flow.

Total cash flow = Opening cash receivable + Sales - Ending cash receivables

= $196,000 + $880,000 - $226,000

= $850,000

Ending cash balance = Opening cash balance + Total cash flow - Cash disbursement

= $146,000 + $850,000 - $940,000

= $56,000

6 0
3 years ago
Draw a demand for dollars curve. Label it D. Draw a supply of dollars curve. Label it S. Draw a point at the equilibrium quantit
brilliants [131]

Answer:

The forces of demand and supply in the market will pull the foreign exchange market into equilibrium.

Explanation:

When there is a surplus of dollar in the foreign exchange market the forces of demand and supply  will pull the foreign exchange market into equilibrium.<em> i.e. The exchange rate will be reduced to bring the exchange market to equilibrium. </em> without change in demand or supply.

attached below is the required graph.

3 0
2 years ago
The journal entry for recording payment for the short-term lease of a fixed asset would?
wlad13 [49]

The finance lease is the journal entry can be created by debiting the lease asset account and crediting the lease liability account. The amount of lease asset or lease liability recorded in this journal entry is the fair value of total lease payments.

Because short-term leases are not capitalized, no depreciation expense on the right of use asset or finance cost on the lease liability is recognized. Payments on short-term leases are expensed by the less on a straight-line or other systematic basis.

Debit the appropriate fixed asset account and credit the capital lease liability and account with the amount.

To learn more about asset here

brainly.com/question/14826727

#SPJ4

3 0
1 year ago
The statement "Bond prices vary inversely with changes in the market rate of interest" means
Sati [7]

Answer:

The correct answer is option A.

Explanation:

The statement given above says that bond prices vary inversely with changes in market interest rate. It means that there is an inverse relationship between bond prices and the market interest rate.

In other words, when the market interest rate falls, the bond prices will rise and when there is an increase in market interest rate, the bond prices will fall. The bond price and market rate of interest are negatively related.  

5 0
3 years ago
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