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ich of the following approaches or inputs provides the best evidence of standalone selling price, under ASC 606? Select one: a. Adjusted market assessment approach
ich of the following approaches or inputs provides the best evidence of standalone selling price, under ASC 606? Select one: a. Adjusted market assessment approach - Evaluate the market in which the entity sells goods or services and estimate the price that a customer in that market would pay for those goods or services. b. Expected cost plus a margin approach - Forecast the expected costs of satisfying a performance obligation and then add an appropriate margin. c. The observable price of a good or service when the entity sells that good or service separately in similar circumstances to similar customers. d. Residual approach - Determine the total transaction price, subtract the observable standalone prices of other goods/services in the contract, and the remainder (residual) could be used to estimate the standalone selling price of the remaining good/service
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