Question

Access theFASB Accounting Standards Codificationat the FASB website (www.fasb.org).

Required:

Determine the specific eight- or nine-digit Codification citation (XXX-XX-XX-XX) that describes the following items:

1.If it is only reasonably possible that a contingent loss will occur, the contingent loss should be disclosed.

2.Criteria allowing short-term liabilities expected to be refinanced to be classified as long-term liabilities.

3.Accounting for the revenue from separately priced extended warranty contracts.

4.The criteria to determine if an employer must accrue a liability for vacation pay.