Under the new revenue recognition guidelines in ASC Topic 606, which of the following statements is not true regarding performance obligations satisfied over time?

Multiple Choice

• The firm must determine at each reporting date the extent to which the performance obligation has been satisfied.
• Output and input methods may be used for measurement purposes.
• To obtain quality measurement, input methods must always be closely related to the transfer of the goods or services to the customer.
• Usable input measures include labor hours, costs incurred, and time elapsed.