The transaction price
A)excludes discounts, volume rebates, coupons and free products, or services.
B)is the amount of consideration that a company expects to receive from a customer
C)excludes time value of money if the contract involves a significant financing component.
D)does not consider noncash consideration such as donations, gifts, equipment or labor.

Question

Quizplus · Accepted Answer

The transaction price is the amount of consideration that a company expects to receive from a customer for transferring goods or services, including any variable consideration, but it does not exclude discounts or noncash considerations.

The Transaction Price