Examlex
Which one of the following items is reported as a current asset on a classified balance sheet?
Void Contract
A contract that lacks legal validity and enforceability from the outset, meaning it has no legal effect and cannot be enforced by either party.
Infant
A very young child, especially one newly or recently born.
Illegal
Illegal refers to actions or activities that are prohibited by law or statute.
Enforceable
Refers to a rule, obligation, or agreement that can be legally imposed or carried out.
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