Answered: A contract modification always results…

A contract modification always results in a new contract if the modification adds distinct goods or services at a price that reflects their stand-alone selling price. A. True B. False

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A contract modification always results in a new contract if the modification adds distinct goods or services at a price that reflects their stand-alone selling price.

A. True

B. False

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