SQE1 · FLK2 · Practice
Solicitors Accounts — single-best-answer practice
Five options, one best answer, no negative marking. Submit each question to see the rationale and the controlling authority before moving on.
Question 1 of 20 · Solicitors AccountsScore 0 / 0
A solicitor receives £5,000 from a client to cover future legal fees for ongoing employment tribunal advice. The solicitor has not yet sent a bill or completed any work. The firm's accounts clerk asks whether the money should be classified as client money or business money under the SRA Accounts Rules. The solicitor plans to bill the client monthly as work is completed. No money has yet been earned. How should the £5,000 be classified?