mjlr

[mjlr]

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$40,000

Ya this question is wrong and possibly outdated due to new standards. From the CFA curriculum “The transaction price is what the seller estimates will be received in exchange for transferring the good(s) or service(s) identified in the contract. The transaction price is then allocated to each identified performance obligation.” An estimate is a reliable way to measure revenue if it is “more likely than not” to be collected. there is no indication that the estimate is unreliable or that the counter-party is not likely to pay.. Correct answer is 80,000

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