Multiple choice

For what reason would an accountant hold a client's money?

  1. To keep to pay a tax bill

  2. To keep in case they don't pay their invoice

  3. To hide from HMRC

  4. To keep to avoid paying VAT
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Accountants may hold client money in a client account to facilitate the payment of tax bills or other professional fees on behalf of the client, provided it is done transparently and legally.

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