IIA Exam IIA-ACCA Topic 7 Question 92 Discussion

Actual exam question for IIA's IIA-ACCA exam

Question #: 92
Topic #: 7

Which of the following statements is most accurate with respect to various forms, elements, and characteristics of business contracts?

AA contract is a tool used by both suppliers and customers, the model and complexity of which generally remains constant

BCollaboration during contract negotiation encourages stakeholders to develop consensus but typically increases cycle times and the likelihood that the contract will fail

CDiffering legal requirements affect the attitudes of contracting parties as well as the length content and language of contracts

DA contract is a tool used by both suppliers and customers though it offers commercial assurance of the relationship, purely from a customer perspective

Show Suggested Answer

Suggested Answer: C

by Van at Nov 13, 2024, 12:00 AM

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Haydee

2 months ago

Haha, option D is hilarious. As if a contract is only for the customer's benefit. These options are a real mixed bag.

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Hobert

2 months ago

User 2: I agree, contracts should benefit both suppliers and customers.

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Tiffiny

2 months ago

User 1: Option D is definitely funny, contracts are for both parties.

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Lauran

3 months ago

But I feel like A is also a valid option, contracts are used by both suppliers and customers

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Gregg

3 months ago

Option B is just nonsense. Collaboration during negotiation is essential for an effective contract, not a hindrance.

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Rosalind

2 months ago

User 4: It's important to consider all aspects when drafting a contract.

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Valentin

2 months ago

User 3: Legal requirements can also impact the content and language of contracts.

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Lashawn

2 months ago

User 2: Definitely, it helps to ensure all parties are on the same page.

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Gladys

2 months ago

User 1: I agree, collaboration is key for a successful contract.

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Colton

3 months ago

I agree with Elise, legal requirements do affect contracts

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Angelo

3 months ago

I agree with Lashawnda. The legal environment is a key factor in how contracts are developed and implemented.

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Carlota

2 months ago

I agree, the legal environment definitely plays a significant role in shaping business contracts.

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Katy

2 months ago

C) Differing legal requirements affect the attitudes of contracting parties as well as the length content and language of contracts

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Julio

3 months ago

A) A contract is a tool used by both suppliers and customers, the model and complexity of which generally remains constant

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Lashawnda

3 months ago

Option C is the most accurate. Legal requirements definitely affect the contract language and structure.

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Nidia

2 months ago

Yes, it's crucial to ensure compliance with legal regulations in contracts.

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Shawnta

2 months ago

Different jurisdictions may have different requirements for contracts.

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Alberta

2 months ago

It's important to consider the legal aspects when drafting a contract.

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Keva

3 months ago

I agree, legal requirements play a big role in shaping contracts.

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Elise

3 months ago

I think the most accurate statement is C

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