A Bond, Which Guarantees the Performance of the Terms of a Contract

question 41

Multiple Choice

A bond, which guarantees the performance of the terms of a contract, is a(n) :

• A) judicial bond.
• B) official bond.
• C) performance bond.
• D) fidelity bond.

---

Definitions:

Government Organizations

Entities established by a government to carry out specific functions, policies, or objectives within a regulatory or administrative framework.

Redistribute Wealth

The transfer of wealth from certain individuals or groups to others to achieve economic balance and social equity, often through taxation and welfare policies.

Government

The organization, machinery, or agency through which a political unit exercises authority and performs functions and which is usually classified according to the distribution of power within it.

Remeasurement Gains And Losses

Gains or losses that result from the process of converting the financial statements of a foreign operation into the presentation currency or functional currency.