Which of the Following Types of Contract Will NOT Be

question 35

Multiple Choice

Which of the following types of contract will NOT be enforceable against a minor?

• A)Trading contracts.
• B)Where the minor pays cash for goods or services.
• C)Contracts for necessaries.
• D)Beneficial contracts of service.

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Definitions:

Direct Method

A cash flow statement preparation approach that involves reporting major classes of gross cash receipts and payments.

Operating Cash Flows

Cash generated from the primary activities of a business, including revenue from sales of goods and services.

Presentation Method

The way financial information is displayed and organized in financial statements or reports.

Financing Activities

Activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.