Which of the following statements is not applicable to ASC Topic 606 guidance for revenue recognition? Multiple Choice A contract asset is written down if it is deemed impaired and any related loss is deferred The recoverable amount is the remaining expected consideration to be received less the cost of providing the goods and services that have not yet been expensed A contract asset is impaired if the carrying amount exceeds the recoverable amount A contract asset is written down if it is deemed impared and any related loss is recognized