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    Intermediate Accounting Reporting and Analysis Study Set 1
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    Exam 17: Advanced Issues in Revenue Recognition
  5. Question
    The First Step of the Revenue Recognition Model Is
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The First Step of the Revenue Recognition Model Is

Question 71

Question 71

Multiple Choice

The first step of the revenue recognition model is


A) to identify the contract with the customer.
B) to identify the performance obligations to the customer.
C) to recognize revenue when it is earned.
D) to determine the transaction price.

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