1. The transaction price from contracts with customers generally should not be adjusted for the effect of the time value of money when

A. The selling price of the product and the consideration promised in the contract differ significantly.

B. The time between the payment and the delivery of the promised goods in the contract to the customer is 18 months.

C. A substantial amount of the consideration is contingent on a future event that is not within the control of the seller.

D. The transfer of goods is at the discretion of the seller.

2. Which of the following situations may result in recognition over time of revenue from a contract with a customer by an entity?

A. The entity can enforce payment for work completed to date on an asset with an alternative use to the entity.

B. The entitys performance creates or enhances an asset not controlled by the customer during the process.

C. The customer has accepted the asset, and the entity has a present right to payment.

D.The customer simultaneously receives and consumes the benefits from performance as the entity performs.