IL Auctioneer Practice Questions - Illinois Licensed Auctioneer Exam

Which of the following is a proper use of an auctioneer's trust account?

Paying the auctioneer's office rent Depositing auction proceeds pending distribution to the seller Investing in stocks for the auctioneer's retirement Paying the auctioneer's personal credit card bills

Correct Answer:

Depositing auction proceeds pending distribution to the seller

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