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A company should only apply the revenue recognition standard to contracts that meet all of the following criteria except a. collectability of consideration is probable.

A company should only apply the revenue recognition standard to contracts that meet all of the following criteria except

a. collectability of consideration is probable.

b. each partys rights regarding goods and services to be transferred are identified.

c. the transaction price is fixed and determinable.

d. the contract has commercial substance.

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