[Dog Training] Nia and Bruno Enter into a Written Contract

question 63

Multiple Choice

[Dog Training] Nia and Bruno enter into a written contract for Bruno to train Nia's dog. Under the contract, Nia is required to pay Bruno $20 for each training session.
-What type of contract is the dog training contract?

• A) Bilateral and express.
• B) Bilateral and implied.
• C) Unilateral and express.
• D) Unilateral and implied.
• E) Bilateral and unenforceable.

Calculate the ending owner's equity based on net income/loss and owner's drawings.

Describe the preparation and purpose of a post-closing trial balance.

Identify which accounts are closed at the end of the accounting period and which are not.

Recognize the sequential order of the accounting cycle's final stages.

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Definitions:

Third-Party Payment

A health care payment plan in which the patient pays a premium to an insurance company and the doctor or hospital is paid by this company (e.g., Blue Cross/Blue Shield) for each treatment provided to the patient.

Insurance Company

A business entity that provides coverage, compensating policyholders for losses in exchange for premiums, in various domains such as health, life, and property.

Medical Bill

A statement detailing charges for medical services rendered, issued to the patient or their insurer.

Cadaver

A dead human body used for medical research, education, or forensic purposes.