LOS Concept Check: Key Indicators for the Transfer of Control Which of the following is not a key indicator used in deciding whether control has passed from the seller to the buyer? a. Seller can identify the contract with a buyer b. Buyer has an obligation to pay the seller C. Buyer has legal title to the asset d. Buyer has physical possession of the asset LO5-2 Concept Check: Key Indicators for the Transfer of Control (2) Which of the following is not an indicator that control of a good has passed from the seller to the buyer? a. Buyer has legal title b. Buyer has an unconditional obligation to pay C. Buyer has scheduled delivery d. Buyer has assumed the risk and rewards of ownership Concept Check: Recognizing Revenue When Performance Obligation Is Satisfied LO5-4 Allen Co. wrote a contract that involves two performance obligations. Product A has a stand-alone selling price of $100, and product B has a stand-alone selling price of $200. The price for the combined product is $240. How much of the transaction price would be allocated to the performance obligation for delivering product A? a. $ 40 b. $ 60 C. $ 80 d. $100