A Victorian agency's bank charges monthly fees on its trust account. How must the agency pay those fees?
Correct Answer
C) From the agency's own general business account
Consumer Affairs Victoria's guide says an estate agent must pay any banking fees for trust accounts from the general business account. Trust money belongs to clients and cannot be used for the agency's own costs.
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A Victorian agency finds on Monday that a ledger is $1,200 short because a payment was made twice in error. It cannot fix it until next week. What must it do?
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