Question: Answer the following using the FASB Codification and cite your sources (down to the paragraphs). Please respond suing complete sentences. 1. Is SEC guidance considered

Answer the following using the FASB Codification and cite your sources (down to the paragraphs). Please respond suing complete sentences.

1. Is SEC guidance considered authoritative GAAP, and is all SEC guidance housed within the Codification?

2. Prove two examples from the Codification of nonauthoritative sources of GAAP.

3. Name a circumstance in which a company selling a product subject to a customer right to return cannot recognize revenue at the time of sale.

4. In determining whether it can exercise significant influence.Significant influence is characterized by certain quantitative factor (20% ownership) and qualitative factors. What are two of the qualitative factors an investor should consider?

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