[Solved] Maas LLP Developed Software That Helps Farmers to Plow Their

Question 144
Multiple Choice

Maas LLP developed software that helps farmers to plow their fields in a manner that prevents erosion and maximizes the effectiveness of irrigation.Sunny Dale paid a licensing fee of $20,000 for a copy of the software.Although Sunny Dale can use the software as long as it wants,Maas expects that Sunny Dale will use the software for approximately 5 years.Maas does not anticipate any further interaction with Sunny Dale following transfer of the license.How much revenue should Maas recognize in the first year of the contract?

A)$0
B)$4,000
C)$5,000
D)$20,000

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