Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. morgan company and its customer agree to modify th

Morgan company and its customer agree to modify their existing contract. Under which of the...

70.2K

Verified Solution

Question

Accounting

Morgan company and its customer agree to modify their existing contract. Under which of the following situations would the modification result in a new contract?

a. The modification adds distinct goods or services, and the contract price increaases by an amount that reflects the stand-alone sellling price of additional goods or services.

b. The modification only affects the transaction price.

c. The modification adds distinct goods or services but does not change the contract price.

d. The modification does not all distince goods and services but does not affect the transaction price.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Avicorp has a $ 14.6 million debt issue? outstanding, with a 5.9 % coupon rate. The...

Finance
Q

Book Name: Principles of Managerial Finance - 180 Day Option, 14th Edition Lawrence J. Gitman P2–5 Interest versus...

Finance
Q

A break-even analysis can be used to determine the amount of sales volume a business needs...

General Management
Q

If f x 3x 3 find f x 2 Find f 5

Calculus
Q

Express in terms of i.?-64?-64 =(Simplify your answer. Type an exact answer, using radicals and...

Algebra
Q

Cash balance, January 1, current year 63900 Cash balance,...

Accounting
Q

At the beginning of 2022, Laminate Corporation began offering a 1-year warranty on its products....

Accounting
Q

Which of the following situations is a violation of the revenue recognition principle? ...

Accounting
Q

Exercise 12-14(Algo) Comparison of Projects Using Net Present Value [LO12-2] Labeau Products, Limited,...

Accounting
Q

Yoric Company listed the net changes in its balance sheet accounts for the past y...

Accounting
Q

Comparative statements of shareholders equity for Anaconda International Corporation were reported as follows for the...

Accounting
Q

Last month, Boeing s analyzed the project whose cash flows are shown below. However, before...

Finance