Transaction cannot be posted due to errors in price determination

What causes this issue?

The error marked with 'X' occurred during the price determination
process for purchasing document &V1& &V2&:
[&V3+0(1)&],,Net price is 0.
[&V3+1(1)&],,Net price is negative.
,,,,,,and/or there are no valid conditions or the duration of the
contract has ended.
[&V3+2(1)&],,Effective value is negative.
[&V3+3(1)&],,Mandatory condition missing.
[&V3+4(1)&],,Negative delivery costs.
[&V3+5(1)&],,Delivery costs have been recorded although invoice
,,receipts are not defined for the item.
[&V3+6(1)&],,Error during quantity conversion
[&V3+7(1)&],,Error during currency translation
[&V3+8(1)&],,Field overflow
[&V3+10(1)&],,A condition involving delivery costs exists without a
,,transaction/event key.
[&V3+11(1)&]Error during maint. of delivery costs in master conditions
Delivery cost conditions in different validity periods
not identical

System Response

The transaction cannot be posted without successful price determination.

How to fix this error?

Check the purchasing document and the associated conditions:

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

<DS:TRAN.ME23N>Display purchase order</>
<DS:TRAN.ME33>Display scheduling agreement</>
INCLUDE SYSADMIN_NA
The latter can check the Customizing settings for price determination in
<ZK>Purchasing</> under <ZK>Conditions -> Define Price Determination
Process</>
When the foregoing steps have been carried out, try posting the
transaction again.

Error message extract from SAP system. Copyright SAP SE.