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1. Which of the following steps is not a requirement for a company to recognize income as result of a contract with a client? to. Identify the contractual obligations of the company b. Determine the contract price C. Charge the contract price d. All of the above are requirements 2. Alpha buys merchandise at a price of $ 10,000 and sends it to Beta for sale. Beta sells it for $ 18,000, retains $ 1,800 as commission, and remits the remaining $ 16,200 to Alpha. As a result: to. Beta recognizes sales income of $ 18,000 and cost of goods sold of $ 10,000. b. Beta does not recognize sales revenue or cost of goods sold. c. Alpha recognizes sales income of $ 16,200 and cost of goods sold of $ 10,000. d. None of the above