What are the promises about the goods and/or services that are to be provided by the entity to the customer commonly referred to as?

Question

Quizplus · Accepted Answer

The promises about the goods and/or services that are to be provided by the entity to the customer are referred to as performance obligations. Contract modifications are changes made to the original contract. Articles of the contract refer to the specific clauses and terms in the contract. Warranties are guarantees given by the seller about the quality and performance of the goods and/or services.

What Are the Promises About the Goods And/or Services That