Which method of measuring the fair value of a performance obligatioin is dependent on the standalone selling prices of other goods or services promised in the contract?

a) expected cost plus a margin

b) standalone selling price

c) residual value

d) adjusted market assessment

In a consignment sale, the consignee

a)records a payable when consigned merchandise is sold

b) makes a journal entry when the consigned merchandise is recieved

c) records advertising paid for the consignment as an expense.

d) recognizes both commission revenue and sales revenue