FAC1503 Assignment 3 Questions and Answers Assignment Financial Accounting Principles (University

myAdmin FAC1503-21-S1-8E / Online Assessment Online Assessment Online Assessment 3 Assignment 3 Part 1 of 9 - 5.0/ 7.0 Points Question 1 of 32 A transfer to the business bank account can only be done if there are sufficient funds in the 1.0/ 1.0 Points trust bank account to the credit of the client. True False Answer Key: True Feedback: Refer to learning unit 6.1 Question 2 of 32 A law firm shall be deemed to have complied sufficiently with Rule 54.8 of the LPA if the 1.0/ 1.0 Points amount transferred is identifiable with, and does not exceed, the amount due to the firm. True False Answer Key: True Feedback: Refer to learning unit 6.7 Question 3 of 32 The trust bank account is credited when the funds are received from the client and the trust 1.0/ 1.0 Points creditor account of the client is credited. True False Answer Key: False Feedback: Refer to learning unit 6.1 Question 4 of 32