FAC1503 Assignment 3 Questions and Answers Assignment

lOMoAR cPSD| 24815199




FAC1503 Assignment 3 Questions and Answers
Assignment
Financial Accounting Principles (University of South Africa)




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3 Assignment 3
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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

1/15
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