Before a Check Is Deposited into a Client's Trust Account

question 21

Multiple Choice

Before a check is deposited into a client's trust account

• A)it must be certified
• B)it must be approved by the office manager
• C)a copy is made of the front and back
• D)it is entered in the cash payments journal
• E)all of the above

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Definitions:

Monthly Payments

Regular payments made each month on a loan, mortgage, or other financial agreement.

Amortization Schedule

A table detailing each periodic payment on a loan over time, breaking down the amounts going towards principal and interest.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage.

Monthly Payments

Regular payments made every month, often in the context of loans or leasing agreements.