A company enters into a contract to build a factory for a customer. The agreed price is 2m and the specified completion date is 31 October 2016. However, the contract provides that the company should receive an incentive payment of a further 250,000 if the factory is completed by 30 September 2016. Similarly, the price will be reduced by 250,000 if the factory is not completed until after 30 November 2016 The company estimates that there is a 15% probability that the factory will be completed by 30 September 2016, an 80% probability that it will be completed in October 2016 or November 2016 and a 5% probability that it will not be completed until after 30 November 2016 ? What is the expected value of the transaction price for this contract 337500 1800000 112500 O 2025000 Which of the following is not a condition that must be met in order for a contract with a customer to ?be within the scope of IFRS 15 The payment terms for the goods or services to be transferred can be identified o The contract has commercial substance The contract has identify each party's rights in relation to the goods or services to be transferred The contract does not identify each party's rights in relation to the goods or services to be transferred o