FASB ASC Questions
1. Determine the citation that mandates disclosures to the financial statements when a company decides to discontinue a component of the entity, though the assets are still held for sale. (I think it's 205-20-4-3)
2. Identify the authoritative guidance that lists all of the conditions for recognition at time of sale when the right of return exists. (I think it's 605-15-25-1)
3. Suppose a licensing arrangement requires a film maker to make significant changes in the film after its initial availability to a customer. Identify the citation that provides guidance to the film maker about when it should recognize revenue from the licensing agreement.