Practice Of Real EstateTrust AccountsMEDIUM
On a North Carolina exam item about trust account reconciliation, audit trail, and account designation, which concept is being defined? Read the description and choose the matching concept. Description: The monthly North Carolina accounting process that compares the bank statement, journal, and trial balance to confirm that trust records are in agreement
Correct Answer
D) Three-way trust account reconciliation
Three-way trust account reconciliation
Answer Options
A
Comparative market analysisB
Lead-inspection review periodC
BICUP classroom attendanceD
Three-way trust account reconciliationWhy This Is the Correct Answer
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Related Topics & Key Terms
Key Terms:
definitiondifficulty_3monthly_reconciliationnc_statenc_trust_account_escrow_requirementsnorth_carolinatiming_forms_exceptions_and_authoritytrust_account_reconciliation_audit_trail_and_designation
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