Agency
In Vermont, the duty of 'accounting' in an agency relationship requires the agent to:
APrepare annual financial statements for the client
BKeep accurate records of and account for all funds received on behalf of the client✓ Correct
CProvide the client with a market analysis report before listing
DFile tax returns on behalf of the client
Explanation
The fiduciary duty of accounting requires the agent to accurately account for all funds and property received on behalf of the client. This includes maintaining proper trust accounts, providing receipts, and reporting on all money handled.
Related Vermont Agency Questions
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