The transaction price is only allocated to goods and services that are both capable of being distinct and that are separately identifiable.

Name: The transaction price is only allocated to goods and services that are both capable of being distinct and that are separately identifiable.
Brand: Quizplus
Rating: 4.8 (54 reviews)

Question

Quizplus · Accepted Answer

According to the accounting standard ASC 606, the transaction price is allocated only to goods or services that meet the criteria of being distinct and separately identifiable. Therefore, the statement is true.

The Transaction Price Is Only Allocated to Goods and Services