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1.Discuss what was viewed as the major criticisms of Generally Accepted Accounting Principles as it relates to Revenue Recognition. In addition, identify the five steps

1.Discuss what was viewed as the major criticisms of Generally Accepted Accounting Principles as it relates to Revenue Recognition. In addition, identify the five steps in the revenue recognition process.

2. Discuss how companies satisfy a performance obligation? In addition, identify the indicators of satisfaction of a performance obligation.

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