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.

Name: 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.
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Question

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A contract modification that adds distinct goods or services at their stand-alone selling price is treated as a separate contract under accounting standards.

A Contract Modification Always Results in a New Contract If