In a Transfer of Real Property, Recording a Deed Gives

question 52

True/False

In a transfer of real property, recording a deed gives notice to the public of the new owner and prevents others from fraudulently conveying the property.

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Definitions:

Adjusting Entry

An accounting entry made in the books at the end of an accounting period to allocate income and expenditure to the correct period.

General Ledger

A complete record of all financial transactions over the life of a company, used to compile financial statements.

Accounting Cycle

The complete process of collecting, recording, and processing financial transactions of a company, from when the transactions occur, to their representation in the financial statements.