Question: SBP Co., a software developer, enters into a contract with a customer to transfer a software license, perform an installation service, and provide unspecified software

SBP Co., a software developer, enters into a contract with a customer to transfer a software license, perform an installation service, and provide unspecified software updates and technical support (online and telephone) for a two-year period. The entity sells the license, installation service, and technical support separately. The installation service includes changing the web screen for each type of user (for example, marketing, inventory management, and information technology). As part of the installation service, the software is to be substantially customized to add significant new functionality to enable the software to interface with other customized software applications used by the customer. How many performance obligations included in the contract? What are they? Please explain your judgement based on the facts discussed above and provide appropriate accounting standard codification (ASC) references to support your conclusion

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