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FAC1503 ASSIGNMENT MEMO’S, PAST PAPERS AND ANSWERS, NOTES + SUMMARIES - SEMESTER 1 - 2023 - MEGA EXAMPACK - UNISA R50,00
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  5. FAC1503 - Financial Accounting Principles For Law Practitioners

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FAC1503 ASSIGNMENT MEMO’S, PAST PAPERS AND ANSWERS, NOTES + SUMMARIES - SEMESTER 1 - 2023 - MEGA EXAMPACK - UNISA

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FAC1503 ASSIGNMENT MEMO’S, PAST PAPERS AND ANSWERS, NOTES + SUMMARIES - SEMESTER 1 - 2023 - MEGA EXAMPACK - UNISA

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  • January 19, 2023
  • 409
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

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  • fac1503 mega exampack semester 1 2023 assignment questions and memos
  • notes summaries
  • faac1503 assignment 1 2023

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FAC1503
Financial Accounting Principles for Law Practitioners

MEGA EXAMPACK
ASSIGNMENT QUESTIONS &
MEMO’S + NOTES & SUMMARIES.
SEMESTER 1 - 2023
Includes Footnotes and/or Bibliography




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Question 1
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Question text
Which of the following statements regarding the rules of the trust bank account
are incorrect when funds are transferred from the trust account to the business
account?
Select one:
a.
Surplus clients’ trust funds may be transferred from the trust bank account to a
separate trust savings account or other interest-bearing account.
b.
The trust bank account should always reflect a debit balance to ensure no
irregularity occurs.
c.
The amount drawn from the trust bank account may exceed the amount kept in
trust on behalf of the client.
d.
Funds may be transferred from the trust bank account to the business bank
account when applying the required requirements.
Feedback
Refer to learning unit 6.2

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