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SAICA APC Practice Questions - SAICA Assessment Of Professional Competence (APC) Exam

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A manufacturing company sells a specialized machine for R5 000 000 with a 2-year free maintenance service contract included. Standalone selling price of the machine is R4 800 000 and standalone selling price of the 2-year maintenance contract is R1 200 000. Under IFRS 15 Revenue from Contracts with Customers, how much revenue should be allocated to the machine performance obligation?
Correct Answer:
R4 000 000

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