Which of the Following Is Not a Type of Contract

question 70

Multiple Choice

Which of the following is not a type of contract generally recognised as enforceable against a minor?

• A)A contract for necessities.
• B)A contract for goods or services of the type suitable for a person under the age of 18 years.
• C)A beneficial contract of service.
• D)A contract where the minor acquires a continuing interest or undertakes a continuing obligation.

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Definitions:

Amortization

The gradual reduction of a debt over a period of time through regular payments of principal and interest.

Sales Commissions

Fees paid to salespersons for generating sales, typically calculated as a percentage of the sale amount.

Depreciation Measures

The methods or calculations used to determine the amount by which an asset's value decreases over time, such as straight-line or declining balance methods.

EBITDA

Earnings Before Interest, Taxes, Depreciation, and Amortization, a measure of a company's operational performance.