Alberta General Insurance Level 1 Practice Exam

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What is NOT one of the functions of a Broker's Accounting System?

  1. Expense detail and budgetary control

  2. Managing the company's social media accounts

  3. Accounts receivable control

  4. Trust and operating account control

The correct answer is: Managing the company's social media accounts

A broker's accounting system is designed to manage and track financial transactions and records for a real estate brokerage. This includes functions such as expense detail and budgetary control, accounts receivable control, and trust and operating account control. However, managing a company's social media accounts is not a function related to accounting and would not be integrated into a broker's accounting system. Options A, C, and D are all directly related to financial management, making option B the only incorrect choice.

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