The Voluntary Transfer of Property by One Person to Another

question 24

Multiple Choice

The voluntary transfer of property by one person to another without consideration or payment of any kind is a(n) :

• A) informal transfer.
• B) will. nullity.
• C) statutory transfer.
• D) gift.

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Definitions:

Make-Or-Buy Decision

The strategic choice between producing a good or service internally or purchasing it from an external supplier.

Operational Risk

A measure of a firm’s inability to document the work remote employees do, describe the different situations they might face, and direct their responses in each scenario.

Outsourcing Vendor

A third-party company that provides services or performs tasks that a company might otherwise have done in-house, often to save costs or access specialized expertise.

Insourcing

The practice of using an organization's internal resources to complete tasks or projects that could be outsourced to external providers.