If Jake puts his business funds and client funds in the same account it is called commingling, and and Jake may be held personally liable for any resulting losses.

Question

Quizplus · Accepted Answer

Money collected by the agent must be held separate from funds belonging to the agent. If deposited in a bank, the money must be deposited in a separate account and so identified that a trust is apparent. Failure to keep such funds separate is known as commingling, and the agent may be held personally liable for any resulting losses.

If Jake Puts His Business Funds and Client Funds in the Same