A Contract Entered into Between an Adult and a Minor

question 31

True/False

A contract entered into between an adult and a minor is unenforceable by both parties.

---

Definitions:

Managerial Accounting

A field of accounting that focuses on providing financial and operational information to managers within an organization to aid in decision-making.

Decision Makers

Individuals or groups responsible for making choices that affect an organization's strategies and operations.

General Accounting

The comprehensive process of recording, analyzing, summarizing, and reporting the financial transactions of a business.

Annual Report

A comprehensive report detailing a company's activities and financial performance throughout the preceding year.