What Is the Difference Between Performance and Tender

question 84

Multiple Choice

What is the difference between performance and tender?

• A) There is no difference.
• B) Performance involves fulfilling contractual obligations, while tender involves offering performance.
• C) Tender is required when there is a conditional contract, while performance is required for all other contracts.
• D) Performance is required when there is a conditional contract, while tender is required for all other contracts.
• E) Tender is substantial performance, while performance refers only to complete performance.

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Definitions:

Consecutive Payments

Regular payments made in a series one after another, often referring to loan repayments or lease payments.

Accrued Liability

A liability that has been incurred, often for expenses, that has not yet been paid or recorded at the end of the accounting period.

Working Capital

The difference between a company's current assets and current liabilities, indicating the liquidity of the business.

Current Liabilities

Short-term financial obligations that are due within one year or within the normal operating cycle of a business.