A 'Voidable' Contract Is One That

question 39

Multiple Choice

A 'voidable' contract is one that:

• A)Is effective and enforceable only if the court declares it to be so.
• B)Is effective and enforceable unless terminated by either party to the contract.
• C)Is effective and enforceable unless terminated by the innocent party.
• D)Is effective and enforceable unless terminated by the court.

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Definitions:

Beriberi

A disease caused by a vitamin B1 (thiamine) deficiency, leading to weakness, nerve damage, and heart failure.

Vitamin

Organic substance that is essential for normal body growth and maintenance and resistance to infection.

Closing Entries

At the close of an accounting period, recordings are made to move balances from temporary accounts to those that are permanent.

Adjustment Columns

Special columns found in accounting ledgers and worksheets used for making necessary modifications to accounts at the end of a reporting period.