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Which of the following statements is most true? The most likely estimated amount is estimated by multiplying the possible amounts with their respective probability of
Which of the following statements is most true?
The most likely estimated amount is estimated by multiplying the possible amounts with their respective probability of occurrence.
Variable consideration means that the transaction price is uncertain.
Basing an estimate on the most likely amount is always superior to basing an estimate on the expected value.
When the transaction price is uncertain, revenue should not be recognized.
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