What is the performance obligation in each of the following cases?

• A car manufacturer provides a new car for a dealer to sell, but the dealer is not required to pay the car manufacturer until the car is sold to a customer. If the car remains unsold after six months, the dealer has the right to return it to the manufacturer.

• A boatyard builds a new yacht for a customer over a period of 18months. The accounting period is 12 months.