A rationale for recognizing revenue over the life of a contract rather than at a single point in time is that:

Multiple Choice

results are more conservative.

it results in a lower income tax.

it provides a better measure of periodic accomplishment.

it is a better match with legal ownership.

A rationale for recognizing revenue over the life of a contract rather than at a single point in time is that:

Multiple Choice

results are more conservative.

it results in a lower income tax.

it provides a better measure of periodic accomplishment.

it is a better match with legal ownership.

A rationale for recognizing revenue over the life of a contract rather than at a single point in time is that:

Multiple Choice

results are more conservative.

it results in a lower income tax.

it provides a better measure of periodic accomplishment.

it is a better match with legal ownership.

A rationale for recognizing revenue over the life of a contract rather than at a single point in time is that:

Multiple Choice

results are more conservative.

it results in a lower income tax.

it provides a better measure of periodic accomplishment.

it is a better match with legal ownership.

Revenue is recognized in the amount of the contract price on the date the last separate performance obligation is satisfied.

Revenue is recognized in the amount of the contract price on the date the contract is signed.

Revenue is recorded over time at the fair value of each performance obligation.

The contract price is allocated to each performance obligation in proportion to the obligations' stand$-$alone selling prices.