Which of the Following Identifies,in the Correct Order,steps in the Five-Step

question 139

Multiple Choice

Which of the following identifies,in the correct order,steps in the five-step model for reporting revenue?

• A)Determine the transaction price;identify the seller's performance obligation(s);identify the contract.
• B)Allocate the transaction price to the performance obligation(s);determine the transaction price;recognize revenue when (or as)each performance obligation is satisfied.
• C)Identify the contract;determine the transaction price;identify the seller's performance obligation(s).
• D)Identify the seller's performance obligation(s);determine the transaction price;recognize revenue when (or as)each performance obligation is satisfied.

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Definitions:

Parapodia

Paired, lateral extensions found in some annelids, such as polychaete worms, used for locomotion and respiration.

Oligochaetes

A subclass of earthworms characterized by having few bristles per segment, important for soil aeration and nutrient cycling.

Proglottid

A segment of a tapeworm containing both male and female reproductive organs, capable of producing eggs.

Tapeworm

A type of parasitic flatworm that lives in the digestive systems of vertebrates, absorbing nutrients from the host's diet.