17. Which of FASB's five steps for recognizing revenue follows immeditaly after allocate the price to the obligations?

A. Identify obligations

B. Determine the transaction price

C. recognize revenue as the obligations are completed

D. Identify contract

18. Which of the following conditions would lead a company to treat the obligations in a contract as one single performance obligation when recognizing revenue?

A. The contract creates enforceable obligations for the seller

B. Each service provided is separate from the others

C. Each service dependent on other obligations in the contract

D. Each service provided is incomplete

19. Which of the following types of revenue is most likely to be recognize over time in multiple periods?

A. Constructions of a large production facility

B. Sale of a long term assets after extended negotitations

C. Sale of inventory froma traditional outlet

D. Upgrades designed over multiple periods and installed simultaneously