Contracts Containing Conditions Affecting the Performance Obligations of the Parties

question 3

Multiple Choice

Contracts containing conditions affecting the performance obligations of the parties are called ________ contracts.

• A) Uncertain
• B) Conditional
• C) Unreasonable
• D) Voidable
• E) Void

---

Definitions:

Due Date

The specified date by which a payment must be made, or a task or assignment must be completed.

Defined Contribution Plan

A pension plan that requires a fixed amount of money to be invested on the employee’s behalf during the employee’s working years.

Annual Pension Benefit

The amount a retiree receives yearly from their pension plan, which is based on factors such as salary history and years of service.

Defined Benefits Plan

A type of pension plan where the benefits that the employee will receive upon retirement are defined in advance.