Even When an Owner Makes a Gift of Real Property

question 8

True/False

Even when an owner makes a gift of real property, the transfer must be evidenced by a deed.
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Definitions:

Revenue

The total income generated by the sale of goods or services related to a company's primary operations before any expenses are deducted.

Realized

Pertains to gains or losses that have been incurred as a result of actual transactions as opposed to those that are theoretical or projected.

Earned

Income or revenue that has been generated or received for goods sold or services provided.

Retained Earnings

The portion of net income that is not distributed to shareholders but is instead reinvested in the business or kept as a reserve for certain purposes.