Which of the Following Is NOT a Requirement of Valid

question 23

Multiple Choice

Which of the following is NOT a requirement of valid consideration?

• A) The consideration must be definite.
• B) The consideration must be gratuitous.
• C) The consideration must be possible.
• D) The consideration must be present or future but not past.

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Definitions:

Office Furniture

Items and fixtures used in an office environment for working and organisational purposes, such as desks, chairs, and filing cabinets.

Straight-Line Method

A depreciation technique that allocates an equal portion of an asset's cost to each year of its useful life.

Resale Value

The estimated amount for which an asset can be sold at the end of its useful life.

Office Furniture

Furniture and related items used in offices, such as desks, chairs, and file cabinets.