Which of the Following Is Correct About Changes in Estimated

question 206

Multiple Choice

Which of the following is correct about changes in estimated variable consideration?

• A) Changes in estimated variable consideration should be recognized as an adjustment to revenue in the period the change in estimate is made.
• B) Changes in estimated variable consideration should be applied retroactively to all periods affected.
• C) Changes in estimated variable consideration should be allocated retrospectively to all prior periods.
• D) Changes in estimated variable consideration are not recognized in periods after transaction price is first estimated.

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