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Discuss revenue from contracts with customers

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Reference no: EM131770495

Which of the following is NOT a factor in determining 'highest best use'?
financially feasible
all the listed are factors
legally permissable
physically possible

ABC Ltd owns an asset that can be traded in four different locations, Markets 1 to 4. The number of trades in markets 1 to 4 are 40 trades, 38 trades, 33 trades and 30 trades respectively. The price of the asset in each of the markets is $32, $28, $25 and $31 respectively. The transaction cost in each of the markets is similar at $3. The transport cost is in each of the markets is $4, $4, $2 and $2 respectively. What is the fair value of this asset?

$32
$29
$25
$28

A software company, SS Software Ltd ("SSS") packaged a software programme and one-year technical support together for $500. Assume that SSS sells the software programme separately for $450 and the one-year technical support for $100. How much revenue should SSS attribute to the one-year technical support under FRS 115 Revenue from Contracts with Customers?
$409.09.
$90.91.
$100.
$50.

Reference no: EM131770495

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