Disclosures concerning significant judgments include all of the following except ________.
A)information regarding fair value of consideration exchanged
B)methods used to recognize revenue
C)allocation of the transaction price
D)an assessment of whether an estimate of variable consideration is constrained

Question

Quizplus · Accepted Answer

Disclosures concerning significant judgments do not typically include information regarding the fair value of consideration exchanged, as this relates more to the basic terms of the transaction rather than the underlying judgments made by management. The other options listed (B, C, and D) are all examples of areas in which significant judgments may need to be made and disclosed by a company.

Disclosures Concerning Significant Judgments Include All of the Following Except