Which of the Following Is Not a Component of Five-Step

question 102

Multiple Choice

Which of the following is not a component of five-step framework to the contract-based approach of revenue recognition?

• A) Determining the transaction price in the overall contract.
• B) Allocating the transaction price evenly through the contract.
• C) Identifying the contract with a customer.
• D) Identifying the performance obligations in the contract.

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