Question: An entity, a contractor, enters into a contract to build a hospital for a customer. The entity is responsible for the overall management of the

An entity, a contractor, enters into a contract to build a hospital for a customer. The entity is responsible for the overall management of the project and identifies various promised goods and services, including engineering, site clearance, foundation, procurement, construction of the structure, piping and wiring, installation of equipment and finishing.

REQUIRED:

Explain how to identify the performance obligation(s) in this contract.

The entity must determine whether the performance obligation is satisfied at a point in time or over time.

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