Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'settlement'?

A. classifier of events representing a violation of an express, or implied, condition of a contract to do or not to do something, without a legitimate excuse
B. classifier of events representing breaking a promise specified in a contract to do or not to do something, without a legitimate excuse
C. act of finalizing a transaction, including but not limited to finalizing accounting, exchanging consideration, and/or legally recording documents, as applicable
D. contractual commitment to settle in cash

Answer: act of finalizing a transaction, including but not limited to finalizing accounting, exchanging consideration, and/or legally recording documents, as applicable