Agency
A Florida transaction broker's duty to 'account for all funds' means the broker must:
AProvide a financial audit to both parties annually
BPromptly account for all deposits, escrow funds, and money received in connection with a transaction✓ Correct
CReport all transaction details to FREC
DPay all closing costs from the broker's funds
Explanation
Accounting for all funds is a duty owed by a Florida transaction broker (and all licensees) requiring the prompt and accurate accounting of any money or property received on behalf of a party in a transaction — whether in escrow or otherwise.
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