3 To account for variable consideration using the most likely amount, the probability of each possible amount is multiplied by the possible amount to get an expected contract price. 5 True False Question 2 (2 points) According to the new revenue recognition principle, no contract is required for a company to record revenue, a long as the company has a reasonable expectation that the buyer will eventually agree to the purchase. lim of Corre True False 1,050. Sts) A