What responsibilities does a broker have when managing trust funds?

A broker managing trust funds has the responsibility to maintain accurate records and provide timely reports to clients. This accountability ensures transparency in the management of the funds and builds trust in the broker-client relationship. It allows clients to stay informed about the status of their funds and any transactions that have occurred.

Maintaining records is crucial for compliance with regulations and for potential audits, as it creates a clear and traceable history of how funds have been managed. Providing reports to clients demonstrates due diligence and helps in fostering a professional relationship, ensuring that clients are aware of their financial standings and any relevant details regarding their trust funds.

The other choices do not align with the ethical and legal responsibilities of a broker in managing trust funds, emphasizing why B is the most appropriate answer.