1. Find the proper FASB ASC citation that provides guidance on the measurement of an impairment loss for a long-lived asset. (The citation must follow xxx-xx-xx-xx or xxx-xx-xx-x format)

2. To prepare for the construction of its new headquarters, ABC company purchased a 500-acre plot of land on July 12, 2016. ABC company purchased the land using 25% cash and financed the balance using 9% loan from XYZ bank. The company began preparation of the land for the construction of the building on January 15, 2017. Which section of the FASB ASC explicitly states whether the 2016 interest on the bank loan qualifies for capitalization? (The citation must follow xxx-xx-xx-xx or xxx-xx-xx-x format)

3. A recent issued demographic report indicates that there is a reasonable probability that ABC company's business may be adversely impacted in the future. The company's controller wants to begin accruing a general contingency reserve now for unspecified business contingencies, such as the potential decline in business that may occur in the future. Find FASB ASC as to whether or not such an accrual is allowed under GAAP. (The citation must follow xxx-xx-xx-xx or xxx-xx-xx-x format)

4. ABC company suffered inventory loss from market declines in April, 2017. As the result, the company wrote off $7,000 cost of inventory. However, the price of the same inventory was fully recovered in October, 17. Which section of the FASB ASC explicitly states whether or not recovery of such inventory loss can be written up? (The citation must follow xxx-xx-xx-xx or xxx-xx-xx-x format)

Please explain/show all work.