What is a performance obligation as it relates to revenue recognition? Use pending guidance to answer this question.

a. Restate the question

b. Provide your answer using complete statement(s) and using proper grammar, punctuation, etc. Be precisepresent no text besides that which is needed to answer the question. Reference matter should not be included in your answer.

c. Provide a reference from FASB Accounting Standards Codification in proper form: xxx-xx-xx-xx or xxx-xx-xx