Agency
In South Dakota, the agent's duty of 'accounting' to the principal means the agent must:
AProvide annual tax accounting services to the client
BKeep accurate records of all funds and property received on behalf of the principal and promptly account for them✓ Correct
CCalculate the principal's profit on the transaction
DAccount for all time spent working on the client's behalf
Explanation
The duty of accounting requires the agent to maintain accurate records of all client funds and property entrusted to the agent, provide an accounting of those funds when requested, and promptly remit any funds owed to the principal.
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