A product and service are bundled together and sold to customers for $450. The fair...

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Accounting

A product and service are bundled together and sold to customers for $450. The fair values of the product and service are $350 and $150 respectively.The IRS standard, IFRS 15 Revenue from Contracts with Customers adopts a (n)O earnings approach to revenue recognition. asset-liability approach to revenue recognition.O cash-based approach to revenue recognition. earned and realized approach to revenue recognition.

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