Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sara Jane has a client who wishes to deposit $200,000 into a registered Segregated Fund. Her client is a Canadian resident and produces a driver's

Sara Jane has a client who wishes to deposit $200,000 into a registered Segregated Fund. Her client is a Canadian resident and produces a driver's licence but does not have his social insurance number handy. He arranges to send this by e-mail as soon as he gets home. The client leaves the $200,000 cheque with Sara Jane. Should she report this transaction to FINTRAC? Select one: a. No, because the client is a Canadian Resident b. No, registered plans are considered exempt products c. Yes because the client purchased a segregated fund d. Yes because the deposit is in excess of $100,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Accounting An Introduction To Financial And Management Accounting

Authors: Jill Collis, Roger Hussey, Andrew Holt, Holt Collis, J. Collis

2nd Edition

0230276237, 978-0230276239

More Books

Students also viewed these Accounting questions

Question

=+a) Was this an observational study or an experiment?

Answered: 1 week ago