Amelia deeds a property to Buster which is never recorded. How would Buster transfer title back to Amelia?
a. By destroying the deed.
b. By handing the deed back to Amelia as a reconveyance.
c. By writing "cancelled" across the face of the deed and returning it to Amelia.
d. Creating a new deed.
Answer: d. Creating a new deed.
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The following are nontax-related characteristics of certain business entities: Unless provided otherwise, all owners have management rights. All owners have limited liability. Formation requires a public filing. A transferee of an owner's financial interest does not become an owner. The entities with the foregoing characteristics are
A. Sole proprietorships and limited liability partnerships. B. General partnerships and limited liability companies. C. Limited liability partnerships and limited liability companies. D. General partnerships and corporations.
Standing Operating Procedures
(a) Listing of required education, experience, physical requirements, and certificates (b) Description of an acceptable level of work (c) Job activities that must be performed by an incumbent (d) A step-by-step description of how to perform work activities (e) Knowledge, responsibilities, and conditions within which a job is performed