Question
In order for a performance obligation to be considered a separate performance obligation under the revenue recognition standard, the obligation must be Integrated or bundled
In order for a performance obligation to be considered a separate performance obligation under the revenue recognition standard, the obligation must be
Integrated or bundled into a combined product. | ||
Useful to the customer on its own or with another readily available resource. | ||
Material considering the seller's total assets. | ||
Interrelated with other goods or services within the contract. |
When estimating variable consideration, companies can use the expected value method or most likely amount method. Companies may pick the method that results in the lowest administrative cost.
True | ||
False |
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