Question
What does this mean? is there another way of explaining it? Identify the specific performance obligation - the promise to provide a distinct good or
What does this mean? is there another way of explaining it?
Identify the specific performance obligation -the promise to provide a distinct good or service.Distinct = capable of valuation on a stand-alone basis AND separately identifiable or distinct within the context of the contract. Significant integration/customization/highly interdependent nature of several goods/services should be considered a single performance obligation. (e.g. building a house). Software license, installation and technical support for your regular customer = 3 distinct performance obligations.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started