Which of the following arises when the seller's right to consideration from a customer is conditional upon something other than the passage of time? A receivable A contract asset A contract liability None of these choices

Which of the following arises when the seller's right to consideration from a customer is conditional upon something other than the passage of time? A receivable A contract asset A contract liability None of these choices

Business Its Legal Ethical & Global Environment

10th Edition

ISBN:9781305224414

Author:JENNINGS

Publisher:JENNINGS

Chapter13: Contracts And Sales:performance And Remedies

Section13.2: Contract Performance

Problem 4CQ

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Question

Which of the following arises when the seller's right to consideration from a customer is conditional upon something other than the passage of time?

A receivable
A contract asset
A contract liability
None of these choices

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