CLC Managing Client & Office Accounts Practice Questions - CLC Diploma - Managing Client And Office Accounts Exam

What is the primary objective of the Council for Licensed Conveyancers (CLC) Accounts Code?

To maximize interest revenue earned by conveyancing practices on firm capital To safeguard client money and ensure it is kept strictly separate from office funds To eliminate the requirement for annual independent financial audits To allow practices to use client deposits for temporary business cash flow needs

Correct Answer:

To safeguard client money and ensure it is kept strictly separate from office funds

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