If multiple contracts are negotiated as a package and have a single commercial objective, the contracts should be combined and accounted for as ________.
A) multiple contracts
B) a single contract
C) assets
D) liabilities

Question

Quizplus · Accepted Answer

When contracts are negotiated as a package with a single commercial objective, they should be combined and accounted for as a single contract to reflect the economic substance of the arrangement.

If Multiple Contracts Are Negotiated as a Package and Have