A company must account for a contract modification as a new contract if Goods or services are

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A company must account for a contract modification as a new contract if

Goods or services are distinct and the company has the right to receive the standalone price.

Goods or services are interdependent on each other.

The company has the right to receive consideration equal to the standalone price.

The promised goods or services are distinct.

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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Posted Date: Jun 23, 2022 08:31 AM

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A company must account for a contract modification as a new contract if Goods or services are

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Intermediate Accounting

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