Business, 17.02.2022 14:00, maxi12312345

Neakanie Industries sells specialized mountain bikes. Each specialized bike purchased includes free maintenance service for 12 months. The price of the specialized bike is $700. When sold separately, a maintenance contract is $200, and a comparable but non-specialized bike is $600. Which of the following is correct? A. Neakanle fulfills its performance obligation at the time of delivery of the bike.
B. Neakanie will recognize $700 of revenue at the end of 12 months.
C. Neakanle must allocate the purchase price based on the stand-alone selling prices of the bike and the service.
D. Neakanle will recognize $350 of revenue at the date of sale and the remaining $350 at the end of 12 months.

Answers: 3

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Neakanie Industries sells specialized mountain bikes. Each specialized bike purchased includes free...