What constitutes a Qualifying Offer in the NBA?

A Qualifying Offer in the NBA is specifically defined as an offer made to a player who is a restricted free agent. This offer typically represents a one-year contract at a salary that is based on the player's previous salary or a percentage of the league's average salary. The purpose of a Qualifying Offer is to give the originating team the right of first refusal; they can match any offer that the player receives from another team. Therefore, identifying it as a one-year guaranteed contract reflects its role in the context of player negotiations and team strategy in retaining talent.

The other options focus on different types of contracts that don't align with the rules governing Qualifying Offers. For instance, performance bonuses are not a requirement in the context of a Qualifying Offer. Similarly, negotiating trade terms or multi-year contracts pertains to different contractual situations in the league and does not describe the specific nature of a Qualifying Offer. Thus, the correct identification as a one-year guaranteed contract encapsulates the essential characteristics and functions of a Qualifying Offer in the NBA.