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

Which of the following definitions best describes 'economic commitment'?

A. Some Commitment which forms part of the subject of some Transaction, being an undertaking by one or other of the parties to the transaction, extended to the other party to that same transaction.
B. A contractually defined and established commitment to deliver some goods, perform some service or make some payment in cash or in kind.
C. Some imbalance, at a given point in time, between the respective rights and obligations of two parties with respect to one another.
D. Something which occurs at a point in time, at which a party makes some commitment to some other party.

Answer: Some Commitment which forms part of the subject of some Transaction, being an undertaking by one or other of the parties to the transaction, extended to the other party to that same transaction.