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A. Contract close-out formalizes project completion.
B. Contract close-out includes product verification.
C. Contract close-out includes updating records with final results.
D. Administrative closure includes procurement audits.
E. None of the above.
Option. B depicts the key difference between Contract Close-out and admin closure.
Just elaborating to explain the same :-
Contract close-out and administrative closure both are conducted during the Closing process group.
However, Contract Close-out is done first followed by admin closure.
In contract close-out Project Manager/Contract Manager checks & verifies if all the work was competed and comissioned satisfactorily. It is checked weather the final product is same as per the contract or not and could it meet the end user need or not ? This process is called "Product Verification" as mentioned in Option B.
Where as administrative closure is an internal process whereby the contract/project manager handover the end product/service to the operational team (end user) with all necessary docuements required for its operations & maintenance. e.g. As built CAD dwgs, tech sheets, Warranty/Gurantee docs, Key suppliers contact details, various assets handover sheet etc.
The most suitable option is
B. Contract close-out includes product verification.
My answer to this question is option E