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How many performance obligations exist in the contract

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Reference no: EM132770226

A franchisor grants a five-year franchise to an overseas company in exchange for an up-front payment of P1,000,000, to accelerate its global expansion. The Franchisor specializes in manufacturing a product which is normally sold for P1,000. As part of the franchise agreement, it agrees to sell this product to the franchisee for P700 throughout the franchise period - a 30% discount on usual market prices to third parties. At this stage, no other services will be provided by the franchisor.

Problem 1: How many performance obligations exist in this contract for franchise?

a. 0

b. 1

c. 2

d. 3

 

Reference no: EM132770226

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