Agency
In South Carolina, an agent's duty to account means:
AThe agent must be a licensed accountant
BThe agent must keep accurate records of all client funds received and promptly remit funds owed to the client✓ Correct
CThe agent must provide annual tax statements to clients
DThe agent must submit financial reports to SCREC quarterly
Explanation
The fiduciary duty to account requires the agent to maintain accurate records of all funds received on behalf of the client and to promptly deliver money owed to the client. This includes trust account records for deposits and escrow funds.
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