Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

A notice in public records showing that a lawsuit may stop the transfer of title to real estate is known as:

Lis pendens

Easement

Lien

Deed restriction

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Verified step by step guidance

Understand the term 'Lis pendens': It is a Latin term meaning 'pending lawsuit.' In financial accounting and real estate, it refers to a notice filed in public records indicating that a property is subject to a legal dispute, which may affect its transfer of title.

Compare the term 'Lis pendens' with the other options: Easement, Lien, and Deed restriction. Each of these terms has a distinct meaning and application in real estate and financial accounting.

Define 'Easement': It is a legal right to use another person's land for a specific purpose, such as access or utility placement, but it does not stop the transfer of title.

Define 'Lien': It is a legal claim or hold on a property as security for a debt or obligation, which can affect the transfer of title but is not specifically tied to a pending lawsuit.

Define 'Deed restriction': It is a limitation or condition written into the deed of a property, restricting its use or development, but it does not indicate a pending lawsuit. Based on these definitions, 'Lis pendens' is the correct term for a notice showing that a lawsuit may stop the transfer of title.