Which film won the first Academy Award for Best Picture (then called Outstanding Picture)?

Which Disney film features the song "Circle of Life"? What was Walt Disney's first full-length animated feature film? In what year was 'Snow White and the Seven Dwarfs' released? What was the first feature-length 'talkie' film with synchronized dialogue, released in 1927? What is the name of the golden statuette awarded at the Academy Awards? In which Los Angeles theater has the Academy Awards ceremony been held since 2002? Which actress has won the most Academy Awards for acting, with four wins? Which actor has won three Academy Awards for Best Actor?