1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
Due to impending labor strife over planned layoffs in its Silicon Valley headquarters, a social networking company has decided t
Ivanshal [37]

Answer:

putting a halt on the layoffs

Explanation:

This strategy should begin by putting a halt on the layoffs. This should be top priority since the layoffs themselves are the main cause for the criticism that the company is receiving and this criticism is the sole reason as to why its market position and staff productivity has fallen drastically. People think the company is failing and the staff is scared that they will eventually be fired. By stopping layoffs and waiting for a market recovery you give other better options a chance to arise and more efficient strategies to take effect.

6 0
3 years ago
The research and development division of Anchor Inc., a manufacturing firm, has a sizeable number of engineers for its employees
Phoenix [80]

Answer:

The correct answer is letter "C": Orientation.

Explanation:

The primary organization-specific factors are <em>orientation, size of the organization, </em>and<em> degree of centralization</em>. Orientation <em>refers to the function of a company that controls the decisions in regards to purchases</em>. The size of the organization implies decision making will be more centralized in larger firms while more decentralized in smaller firms. Finally, the degree of centralization states that even in highly autonomous corporations, some purchases might be subject to the approval of a manager who confirms the need for the assets being acquired.

<em>Because in Anchor Inc. the purchase decisions are made by engineers the orientation organization-specific factor is more relevant in that company</em>.

6 0
2 years ago
1. Select why manufacturers use a predetermined overhead rate to apply manufacturing overhead to their jobs. (You may select mor
Lady bird [3.3K]

Answer:

The correct answer is: Manufacturers use predetermined overhead rates to allocate to production jobs the production costs that are not directly traceable to specific jobs.

Explanation:

If we are able to trace a cost directly to a product we will not include it in manufacturing overhead. Manufacturing overhead was created to allocate costs that are not directly traceable to a product. It helps manufacturers to allocate costs with certain precision.

3 0
3 years ago
List the pros and cons of partnerships.​
sergey [27]
Pro-you’re never lonely , you have someone to talk with , you and your partner are more open , it creates a healthy mentality’s, you’re able to communicate with each-other , learn and grow with each-other, learn together ,learn about one’s difficulties . Cons- end up hurt , lose trust , see everyone differently, learn from past experiences, become a better version of your self
6 0
2 years ago
The changes in account balances of the Vel Corporation during Year 6 are presented below: Increase Assets $356,000 Liabilities 1
zzz [600]

Answer:

b. $ 36,000

Explanation:

The fundamental accounting equation is

Assets = Liabilities + Stockholders Equity

Per the data provided in the question regarding changes in account balances

$ 356,000 = $108,000 + (240,000+24,000)

$ 356,000 = $ 372,000

= - ($ 14,000)

Since the data provides that a dividend payment of $ 52,000 has been made, we have to add it to our differential balance to get the income for the year.

$ - 14,000 + $ 52,000  = $ 36,000

6 0
3 years ago
Other questions:
  • How did many early marketers establish a degree of power with their brands?
    13·1 answer
  • The hr manager told jim that the company pays the total health insurance costs for a family of four. as a single man, this benef
    10·1 answer
  • A firm has an operating profit (EBIT) of $600 on sales of $1,000. Interest expense is $250 and taxes are $120. What is the times
    6·1 answer
  • A report found that the real entry-level wage for college graduates declined by 6 percent between 2003 and 2010.
    14·1 answer
  • Even though eggs are a significant source of cholesterol, what other information on the nutrition label should tom consider if h
    9·1 answer
  • Game theory is useful in analyzing oligopoly behavior because: advertising is so common among oligopoly firms. it explains why o
    14·1 answer
  • A friend says, “i want to minimize my risks of organ damage and long-lasting mental change,” and then asks, “what kind of drug s
    6·1 answer
  • Consider the following scenario:
    14·1 answer
  • Public relations is best considered a __________ function
    15·1 answer
  • Country A has great expertise in the production of planes and produces a large quantity of planes while country B has expertise
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!