Question 4 of 20The once-revised exposure draft on revenue recognition issued by the IASB and the FASB: 0.0! 5.0 Points Aaddresses when and how much revenue should be recognized in contracts to provide both goods andservices to customers. B.proposes to eliminate alternate methods of revenue reoognition such as the percentage—of—completionand installment sales methods. 0.will require companies to recognize a net liability contract position on all new contracts; revenue willthen arise from increases in the net contract position over the life of the contract. - C} D. All of the above are correct regarding the FASBIIASB exposure document.