A Is a Deed That Simply Transfers to the Grantee

question 44

Multiple Choice

A is a deed that simply transfers to the grantee the interest that the grantor owns in the property.

• A) general warranty deed
• B) bargain and sale deed
• C) quitclaim deed
• D) deed of trust

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Definitions:

Revaluation Surplus

The increase in an asset's carrying amount as a result of a revaluation, recognized in equity.

Financial Period

A specified duration of time used for financial reporting and accounting purposes, typically one year or one quarter.

Revaluation Surplus

Revaluation surplus is an accounting term that refers to the increase in value of an asset, recognized after its revaluation exceeds its previously recorded value.

Retained Earnings

The accumulation of a company's net profits less any dividends paid to shareholders over its lifetime, reflecting the company's reinvestment back into operations.