Hi Jason,
It is called a non-planar Face and should generally be avoided.
The Mesh is going to be triangulated before Rendering, but this can give really bad and unwanted Shading artifacts.
If you are going to use a Subdivision Surface Modifier (Catmull Clark), that will improve the situation and make it less noticeable, but still: try to avoid it.
Another problem is a so-called concave quad:

This will give you enormous problems and headaches, when using a Subdivision Surface Modifier (again: Catmull Clark).
So be careful with those as well!