In Applying the Revenue Recognition Principle,which of the Following Statements

Multiple Choice

In applying the revenue recognition principle,which of the following statements regarding multiple performance obligations is incorrect?

A) If the transaction has multiple performance obligations, the transaction price is allocated among the different performance obligations.
B) The business can recognize revenue when (or as) it satisfies each performance obligation by transferring a good or service to a customer.
C) A contract might have multiple performance obligations.
D) Revenue is recognized after all performance obligations are satisfied.