Which of the Following Contracts Is Void

question 84

Multiple Choice

Which of the following contracts is void?

• A)A contract made by an unemancipated minor.
• B)A contract made by a person who has been adjudicated insane and institutionalized.
• C)A contract made by a person under the influence of mind-altering drugs.
• D)A contract made by a minor who receives no support from a parent or guardian.

---

Definitions:

Consolidating

The process of combining financial statements from multiple departments or subsidiaries within a company to create a single set of financial statements.

Equity Method

A procedure for accounting for ownership interests, where the investment's carrying amount is adjusted for the investor's proportionate share of the associate company's profits or losses over time.

Investment Account

An account held at a financial institution that holds investments such as stocks, bonds, mutual funds, and other assets for the investor.

Subsidiary

A company controlled by another company, often referred to as its parent company, through ownership of more than half of its voting stock.