________ Is a Rule That States That If a Minor

question 7

Multiple Choice

________ is a rule that states that if a minor has transferred money, property, or other valuables to the competent party before disaffirming the contract, that party must place the minor in status quo.

• A) Emancipation doctrine
• B) Infancy doctrine
• C) Duty of restitution
• D) Duty of restoration

---

Definitions:

Agricultural Produce

The harvested product of the entity’s biological assets.

Biological Assets

Living plants or animals that are used in agricultural production or held for sale, breeding, or other purposes, which can provide economic benefits to their owners.

AASB 141

An Australian accounting standard that covers the agricultural sector, detailing the accounting for agricultural activity including the recognition and measurement of biological assets and agricultural produce.

IAS 41

An international accounting standard that prescribes the accounting treatment and reporting of agricultural activity.