A Company Must Account for a Contract Modification as a New

question 76

Multiple Choice

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

• A) the modification adds distinct goods or services at a price that reflects their stand-alone selling price.
• B) the seller has the right to receive consideration equal to the stand-alone selling price of the promised goods or services.
• C) the promised goods or services are distinct and separable from other goods or services promised in the original contract.
• D) the promised goods or services are distinct and the contract has commercial substance.

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Definitions:

Transtheoretical Model

A theory of behavioral change that assesses an individual's readiness to act on a new healthier behavior and provides strategies to guide the individual through the stages of change.

Readiness To Change

An individual's preparedness and willingness to initiate or engage with transformative actions or behaviors in their life.

Differentially Effective

Refers to treatments or interventions that have varying levels of effectiveness depending on specific conditions or variables involved.

Long-Term Outcome

This term denotes the final or eventual results or consequences of an action, treatment, or policy over an extended period.