Discuss actions and or activities that can result in "significant influence" when an investor's financial interest is below the 50% level. 2-Some sales are made giving the customer the option of returning the item for a refund. Please explain the accounting for sales with right of return. 3-discuss at least two reasons why the components of income tax expense should be disclosed and a reconciliation between the effective tax and the statutory tax rate provided

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1 Significant Influence with Financial Interest Below 50 Board Representation Even with less than 50 ownership an investor can exert significant influence by securing a seat on the investee companys b... View the full answer