Exercise 5-4 FASB codification research [LO5-4, 5-5] Access the FASB Standards Codification at the FASB website (www.fasb.org). Required: Determine the specific citation for accounting for each of the following items: 1. On what basis is a contracts transaction price allocated to its performance obligations? 2. What are indicators that a promised good or service is separately identifiable from other goods and services promised in the contract? 3. Under what circumstances is an option viewed as a performance obligation?