Accounting · IFRS 15 Revenue from Contracts with Customers
Mighty IT Co offers a standalone supply and installation service for $1,000 and a separate two-year technical support service for $500. Alternatively, it offers a combined contract including both elements for $1,200. In accordance with IFRS 15, what is the allocated revenue that Mighty IT Co should recognise for the supply and installation service for each combined contract sold?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$1,200
- 2$1,000
- 3$800✓
- 4$700
Correct answer
$800
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