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

question 7

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.
-Which of the following is true about void and voidable contracts?

• A) Either party can terminate the contract at any time as long as additional consideration is paid.
• B) Both contracts are illegal and the consideration for the contract must be returned to the other party.
• C) Both parties must agree to terminate a void or a voidable contract because otherwise there would be no privity of contract and a court would not uphold it anyway.
• D) A void contract is not a contract at all; a voidable contract can be terminated by one party.
• E) Both contracts must be in writing.

Distinguish between different inventory methods and their impact on financial statements.

Identify the normal balances for different types of accounts.

Learn the correct accounting entries for common types of transactions.

Understand the role of adjusting entries in the financial statement preparation process.

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Definitions:

Frontal Lobes

The frontal lobes are regions of the brain that are involved in decision making, problem solving, control of purposeful behaviors, consciousness, and emotions.

Brainstem

The oldest part and central core of the brain, beginning where the spinal cord swells as it enters the skull; the brainstem is responsible for automatic survival functions.

Critical Period

A specific time interval in an organism's life during which the presence or absence of certain experiences can have profound and lasting effects on its development.

Cataracts

A medical condition where the lens of the eye becomes progressively opaque, resulting in blurred vision and, if untreated, blindness.