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d. The transaction priCe is a variable amount of P900,U{)0_ 10. Which of the following statements is incorrect regarding the uncertainty in the collectability of the promised consideration in a contract, according to PFRS 15? a. It the uncertainty in collectability arises at contract inception, the entity does not recognize any revenue and treats any advanced collection as a liability. . If the uncertainty in collectability arises subsequent to contract inception, the entity recognizes a loss. If the uncertainty in collectability arises subsequent to connect inception, the entity restates any revenue recognized in previous periods. The entity is required to assess the collectabiiity of the consideration at contract inception and continues to do so at the end of each reporting period