Practice Of Real EstateTrust AccountsEASY
In North Carolina practice, what term or document matches this description about trust account reconciliation, audit trail, and account designation? Match the description to the correct term. 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
B) Three-way trust account reconciliation
Three-way trust account reconciliation
Answer Options
A
Lead-inspection review periodB
Three-way trust account reconciliationC
BICUP classroom attendanceD
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Related Topics & Key Terms
Key Terms:
definitiondifficulty_1monthly_reconciliationnc_statenc_trust_account_escrow_requirementsnorth_carolinascenario_traps_edge_cases_and_enforcementtrust_account_reconciliation_audit_trail_and_designation
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