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How many performance obligations were created

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Problem 1: You buy a new motor scooter from Sam's Bikes and take it home the following day. You pay a total of $2,000, which includes the stand-alone price of the scooter for $1,400, as well as a warranty, which sells separately for $600. This warranty is not required by law and is good for up to 5 years after the sale of the scooter, to cover routine maintenance and repairs. How many performance obligations were created upon the initial transaction and what kind of warranty did you purchase?

a. One performance obligation; Assurance

b. One performance obligation; Extended-Service

c. Two performance obligations; Extended-Service

d. Two performance obligations; Assurance

 

Reference no: EM132692221

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