eLean is an online fitness community, offering access to workout routines, nutri
ID: 2496666 • Letter: E
Question
eLean is an online fitness community, offering access to workout routines, nutrition advice, and eLean coaches. Customers pay a $50 fee to become registered on the website, and then pay $5 per month for access to all eLean services. How many performance obligations exist in the implied contract when a customer registers for the services?
Identify the best description of each performance obligation from the following list. (Select all that apply.)
-Access to eLearn Service
-Registration on website
-Upfront Payment
-Monthly Payment
Identify the best description of each performance obligation from the following list. (Select all that apply.)
-Access to eLearn Service
-Registration on website
-Upfront Payment
-Monthly Payment
Explanation / Answer
Answer:
Number of performance obligations exist in the implied contract-
1. Access to e-learn services.
2. Providing advice regarding fitness/nutrition.
3. Answering fitness queries of the customer.
4. Conducting face to face discussion with customer whenever required.
5. Proper maintenance of website so that customer can easily access them.
6. Reminding customer about their monthly payments.
7. Availability of sufficient numbers of coaches.
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