Which of the Following Is True with Respect to Substantial

question 42

Multiple Choice

Which of the following is true with respect to substantial performance?

• A) It is not used in the construction industry.
• B) Substantial performance is performance that, though incomplete, does not defeat the purpose of the contract.
• C) When one party to a contract has substantially performed, the other party cannot recover damages for the imperfect performance.
• D) An express condition need only be substantially performed.

---

Definitions:

Journal Entry

The basic record of a financial transaction in an accounting system, noted by debits and credits to various accounts.

Tangible Frauds

Deceptive acts involving the manipulation or misuse of physical assets or goods for illegal gain.

Asset Misappropriation

The theft or misuse of an organization's assets by employees or others with access.

Counterfeiting

The fraudulent manufacturing or creation of imitation products, currency, or documents with the intent to deceive.