Question: A company signed a 5 - year contract with a customer in Year 1 and agreed to modify the contract at the beginning of Year

A company signed a 5-year contract with a customer in Year 1 and agreed to modify the contract at the beginning of Year 2. Which of the following is a condition that must be present in order for the contract modification to be accounted for as a separate contract?
The original contract is terminated.
The price of the original contract remains the same.
The performance obligations of the original contract are partially satisfied.
The scope of the original contract increases through the addition of distinct goods or services.

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