The Finai Paper is composed of four sections. The first three sections address revenue recognition that involves constraints . Accounting literature ASC 606 addresses revenue recognition and how to determine a transaction price when constraints are involved . The last section addresses asset liability obligations (ALO) which arise when future obligations must be recorded. The section addresses the future obligations that arise when a cranberry bog Closes and the reclamation process starts .Document any information used from sources in APA style as outlined in the Ashford Writing Center's Citing Within Your Paper (Links to an external site.) guide . The evaluation of the four Mercentages - Section 1: 10 % - Section 2: 15 % - Section 3: 25 % Section 1: Write one page. Read the first four pages in Variable Consideration and the Constraint (Links to an external site.). stopping at Diversity in MRS the bullets below. Your writing should reference the Accounting Standards Codification . Section ASC 606 using proper intext citations .lnclude the following in your evaluation . Describe variable consideration - Explain what a company must do if a contract contains a variable consideration - Identify the items in a contract that generally result in a variable consideration - Explain the expected value and most likely approach. - Summarize the factors to be considered in the analysis when a reversal could occur and why they are important Section 2: Write one page. Scenario : Absco , Inc ., is a calendar year end clothing manufacturer that sells exclusively to retailers . It engages in a large number of contracts with its customers .Absco signed a contract with Socks Are Us to ship 100,000 pairs of socks on December 27.The contract price is $5 per pair with nonrefundable payment due upon receipt of the socks .Absco immediately delivers the socks to Socks Are Us once the contract is signed by both parties with the socks arriving on December 28. However ,Socks Are Us has not remitted payments as of December 31. It is clear to Absco that it wiii have to offer the customer a price concession in order to receive any payment at all. Absco has not had extensive dealings with Socks Are Us but estimates that it will need to offer a 25% discount Using the Accounting Standards Codification .Section ASC 606 asa source