Which of the Following Is an Example of a Contract

question 75

Multiple Choice

Which of the following is an example of a contract contrary to statutes by its very existence?

• A) a usurious loan contract
• B) a contract between two minors
• C) a contract where one party is insane but not adjudged insane
• D) a contract of adhesion

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Definitions:

Operating Activities

Activities that relate directly to the business's primary operations, like selling products or services, as opposed to investment or financing activities.

Accounts Receivable

Money owed to a company by its clients or customers for products or services sold on credit.

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life, reflecting the decrease in value due to wear and tear, age, or obsolescence.

Operating Activities

Transactions related to the primary, day-to-day business operations, such as the sale of goods and services.