The fourth step in the process for revenue recognition is to
A)recognize revenue when each performance obligation is satisfied.
B)identify the separate performance obligations in the contract.
C)allocate transaction price to the separate performance obligations.
D)determine the transaction price.

Question

Quizplus · Accepted Answer

The fourth step in the revenue recognition process is to allocate the transaction price to the separate performance obligations identified in the contract.

The Fourth Step in the Process for Revenue Recognition Is