Time Remaining $2$ hours $22$ minutes $39$ seconds

$02$:$22$:$39$

Item $10$

Time Remaining $2$ hours $22$ minutes $39$ seconds

$02$:$22$:$39$

Which of the following is one of the steps for recognizing revenue?

Multiple Choice

Identify the performance obligations of the contract.

Allocate all revenue to the performance obligation with the largest stand$-$alone selling price.

Determine whether bad debts can be reasonably estimated.

Estimate the total transaction price of the contract based on fair value.