An Attorney Receives a Check from the Defendant in Settlement

question 54

Multiple Choice

An attorney receives a check from the defendant in settlement of a lawsuit brought by his client,the plaintiff.Even if the check is made out in the name of the attorney,it will belong to the client as a:

• A) resulting trust.
• B) constructive trust.
• C) totten trust.
• D) spendthrift trust.

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Definitions:

Enter Credit Card Charges

The process of recording the expenses incurred on a business credit card into the company's accounting system.

Business Transaction

Any activity that involves the exchange of goods, services, or funds between two or more parties.

QuickBooks Company

A specific business entity set up within QuickBooks accounting software to manage its financial transactions and records.

Onscreen Journal

A digital ledger displayed on a screen, used to record financial transactions in accounting software.