Personal Defenses Include All But

question 36

Multiple Choice

Personal defenses include all but:

• A) lack of consideration.
• B) minority of the maker.
• C) fraud in the inducement.
• D) breach of contract.

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Definitions:

Operating Activities

Financial transactions and events that affect the operational aspect of a company, including cash flows from operations.

Inventory

The goods and materials a business holds for the ultimate goal of resale, production, or utilisation in the service of manufacturing or providing services.

Accounts Payable

Liabilities representing amounts a company owes to creditors for goods and services purchased on credit and not yet paid.

Average Days

A measure that typically refers to the average number of days an asset is held or the average number of days it takes for a company to convert certain assets into cash.